President Trump’s effort to oust the Federal Reserve governor has kicked off a landmark legal battle, one that will have far-reaching consequences for the institution’s independence.

© Andrew Harnik/Getty Images

Lisa Cook, who has not been charged with a crime, sought to retain her position, arguing her firing was “unprecedented and illegal.”

© Drew Angerer/Getty Images

President Trump’s attempt to fire Lisa Cook, a Fed governor, will set off a long legal battle. Economists warn it could lead to higher inflation and government borrowing costs.

© Doug Mills/The New York Times

President Trump told Lisa Cook that he had found sufficient cause “to remove you from your position.” Ms. Cook and her lawyer said they would fight the firing.

© Brittany Greeson for The New York Times

The administration accused the official, Lisa Cook, of mortgage fraud and said it would refer the matter for criminal investigation.

© Kendrick Brinson for The New York Times