Trump Demands Fed Director Cook Resignation Over Mortgage Deal
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Trump Calls for Fed Governor Lisa Cook to Resign Amid Mortgage Fraud Allegations
WASHINGTON – President Trump on Tuesday called for Federal Reserve Governor Lisa Cook to resign, escalating his attacks on the independent central bank and citing allegations of mortgage fraud. The call for Cook’s resignation comes as Trump seeks to exert greater influence over the Fed and potentially reshape its leadership.
The controversy stems from accusations that Cook made false statements on mortgage applications. Trump posted on his social media platform, truth Social, “lisa Cook should resign, now!!!”
According to reports from the Wall Street Journal, Trump has discussed with aides the possibility of dismissing Cook. While the White House declined to comment on these reports, the situation is intensifying.
Federal Housing finance Agency (FHFA) Director Parte has requested that Attorney General Bondy investigate the allegations, and Justice Department officials have stated they are taking the matter seriously.The mortgage in question dates back to 2021, before Cook’s appointment to the Federal Reserve.
This latest move is part of a broader pattern of Trump criticizing the Fed and its Chairman, Jerome Powell, and suggesting potential replacements. He has repeatedly called for interest rate cuts.
The attacks on Cook, the first black woman to serve on the Federal Reserve Board, have drawn sharp criticism from Democrats. In a post on X, members of the house Financial Services Committee condemned Trump’s actions as a “blatant lie” and an attack on the Fed’s independence. They argue that Trump is attempting to replace Cook with someone more aligned with his policies.
Cook’s term extends beyond Trump’s potential second term, complicating his efforts to control the majority of the seven-member board. Currently, two other members of the board were nominated by Trump.
Neither the federal Reserve nor Governor Cook have responded to requests for comment. This developing story will be updated as more information becomes available.