Hello and welcome to NewsHour from the BBC World Service coming to live from London. I'm Sean Lay.

Even if you only know of Alexander Hamilton from that smash hit Broadway musical which bears his name,

you'll know that America's first Treasury Secretary champion the cause of a national bank

in order to ensure the stability of the currency. The first time of the national bank in order to ensure the stability of the currency.

The First Bank of America is long gone, although its building in Washington, D.C. remains,

and its modern-day equivalent is causing just as much political controversy

as Hamilton's idea did three centuries ago.

Governors of the Federal Reserve are appointed by the President,

but to long terms which in theory insulate them for political pressure once in office.

But on Monday, President Trump announced he would fire one of the governors,

citing both the authority of the executive branch of the federal government

under America's constitution and the Federal Reserve

Act of 1913, which says a sitting governor can be removed quotes for cause.

Howard Lutnik, President Trump's Commerce Secretary, continued the administration's denunciation of

this particular governor, Lisa Cook, in an interview with CNBC today.

The issue is a federal government, a governor of the Federal Reserve,

literally signs her name and commits mortgage fraud, right?

It's alleged that she's committed mortgage fraud,

and she says, I'm not going anywhere.

Well, the crook always says, I'm not going anywhere. And why would anybody defend always says I'm not going anywhere. And why would

anybody defend that? The real question should be, did she commit mortgage fraud? Yes or no?

And if you did commit mortgage fraud, please get out of the federal government, get out of the

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