Trump Removes Lisa Cook from the Fed
President Donald Trump removed Federal Reserve Governor Lisa Cook from her position following allegations that Cook falsified mortgage application documents. In a letter posted to the Truth Social account, Trump stated that the American people deserve honest and trustworthy officials. He accused Cook of engaging in fraudulent and possibly criminal behavior.
The removal came after the U.S. Department of Justice indicated it would investigate Cook, based on a criminal referral from Federal Housing Finance Agency Director Bill Pulte. Pulte accused Cook of mortgage-related fraud. The move was part of the Trump administration's efforts to increase legal pressure on Democratic Party figures and the central bank.
Cook denied the allegations and asserted that she would not resign simply because of political pressure. On August 20, she said she would not be intimidated by unproven allegations. She also stated that she would gather accurate data to respond to any questions regarding her financial history.
This sudden removal has raised new concerns about the independence of the Federal Reserve. Many fear that Trump's move could pave the way for political interference in U.S. monetary policy. This situation has also impacted financial markets, with the US dollar weakening and investors becoming increasingly wary of the direction of future economic policies. (ayu)
Source: Newsmaker.id
