President Trump Calls for Federal Reserve Governor Lisa Cook's Resignation Amid Mortgage Fraud Allegations
President Donald Trump has called for the resignation of Federal Reserve Governor Lisa Cook following allegations of mortgage fraud related to her property transactions in 2021.
President Donald Trump has called for the resignation of Federal Reserve Governor Lisa Cook following allegations of mortgage fraud related to her property transactions in 2021.
Bill Pulte, Director of the Federal Housing Finance Agency, has urged the Department of Justice to investigate Cook, alleging that she claimed two homes as her primary residences to secure favorable mortgage terms.
Cook, appointed to the Federal Reserve Board by former President Joe Biden in 2022 and reappointed in 2023 to a term lasting until 2038, has denied the allegations and stated she will not be "bullied" into resigning.
The Federal Reserve and the Department of Justice have declined to comment on the matter.
This development is part of a broader effort by the Trump administration to influence the Federal Reserve, including previous criticisms of Chair Jerome Powell and calls for lower interest rates.
Senate Democrats, including Chuck Schumer and Elizabeth Warren, have expressed support for Cook and criticized the administration's actions as attempts to undermine the Federal Reserve's independence.