President Donald Trump on Monday night escalated his conflict with Federal Reserve Governor Lisa Cook by removing her from the Fed’s board.
The move comes after Trump urged the governor to resign her post last week over allegations that she may have committed mortgage fraud before she took her place on the Federal Reserve Board. Cook declined Trump’s call to resign.
Federal Housing Finance Agency Director William Pulte notified Attorney General Pam Bondi earlier this month that Cook allegedly āfalsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud.”Ā
āThe Federal Reserve has tremendous responsibility for setting interest rates and regulating reserve and member banks,ā Trump told Cook in a letter he posted to Truth Social. āThe American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve.Ā
“In light of your deceitful and potentially criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity,” he continued. āI have determined that there is sufficient cause to remove you from your position.”
Pulte claimed Cook listed two residences as her primary, and the second place was listed as a primary residence weeks after she took out a loan on her Michigan home.
Alleged mortgage fraud has become a focal point for Department of Justice inquiries into Democratic officials, with California Sen. Adam Schiff and New York Attorney General Letitia James both facing scrutiny over their purchases.
Misty Severi is a news reporter for Just The News. You canĀ follow her on XĀ for more coverage.Ā
