Trump Calls for Fed Member’s Resignation Amid Allegations

On Wednesday, President Donald Trump urged Federal Reserve member Lisa Cook to resign due to allegations of mortgage fraud.

In a statement on social media, Trump said, “Cook must resign, now!!!” His comments followed similar sentiments expressed by Bill Pulte, director of the Federal Housing Financial Institutions, who mentioned a referral to the Department of Justice regarding the allegations.

According to reports, the Federal Housing Finance Agency (FHFA) has submitted a criminal referral to the DOJ alleging that Cook engaged in mortgage fraud by declaring an out-of-state condominium as her primary residence just two weeks after securing loans for her Michigan home, which was already labeled her primary residence. Pulte emphasized that anyone who commits mortgage fraud damages the trust and integrity of the system, asserting that no one is above the law.

Pulte further noted that they submitted a criminal referral to the DOJ and urged the department to investigate thoroughly.

Interestingly, Cook was nominated by former President Joe Biden for a governor position back in 2022, receiving support from Senator Sherrod Brown.

Recently, there have been calls from Trump and others for Federal Reserve Chairman Jerome Powell to step down due to high interest rates. Despite this pressure, Powell reportedly intends to finish his term, which concludes next May.

As of now, the Federal Reserve Board has not responded to Trump’s demands regarding Cook’s resignation.