WASHINGTON -- President Donald Trump on Aug. 25 published a letter saying that he has fired Lisa Cook, a member of the Federal Reserve Board of Governors, from her position.

Members of the board, who are appointed by the U.S. president with the advice and consent of the Senate, serve 14-year terms, and normally cannot be removed except "for cause."

"In light of your deceitful and potentially criminal conduct in a financial matter, [the American people] cannot and I do not have such confidence in your integrity," wrote Trump in the letter.

The action is the latest episode in the ongoing tension between the president and the Federal Reserve. Its chairman, Jerome Powell, has been the subject of Trump's public criticism for many weeks amid the president's insistence that the central bank lower interest rates to stimulate the U.S. economy.