Trump Urges Fed Governor Lisa Cook to Resign
President Donald Trump called on Fed Governor Lisa Cook to resign. This call came after Federal Reserve (FHFA) Director Bill Pulte pushed the Department of Justice (DOJ) to investigate Cook for alleged mortgage fraud. Trump wrote on social media that Cook “must resign now.”
Pulte accused Cook of declaring two properties—in Atlanta and Michigan—as primary homes within a short period of time to obtain more lenient loan terms. In his referral to the DOJ, he mentioned the two loans in June and July 2021 and included copies of the mortgage documents. To date, there have been no formal criminal charges, and it is unclear whether the DOJ will investigate. The Fed and Cook have not commented on the request to resign.
The political context: Trump has frequently pressured the Fed to cut interest rates and wants to overhaul the central bank's board. In early August, he nominated Stephen Miran to replace Adriana Kugler—an appointment that demonstrates Trump's efforts to shape the Fed's direction. (ayu)
Source: Newsmaker.id
