Trump Threatens to Fire Fed Governor Over Fraud Allegations
On Friday, former President Donald Trump expressed that he would dismiss Federal Reserve Governor Lisa Cook if she doesn’t resign amid allegations of mortgage fraud.
“What she did is bad,” Trump remarked to journalists. He continued, stating, “So if she doesn’t resign, I’ll fire her.”
Bill Parte, chair of the Federal Housing and Finance Agency (FHFA), commented, “We have documents she submitted to the U.S. government while serving as Federal Reserve Governor, indicating that as of February 28, 2023, she claimed a property in Atlanta as her personal residence for rentals.”
Ed Martin, a lawyer for the U.S. Department of Justice, communicated in a letter viewed by Breitbart News that members of the Trump administration suggested “we could fabricate bank documents and property records to secure better loan terms and thereby commit mortgage fraud under criminal law.”
Despite the pressure, Cook has remained defiant, declaring that she won’t be bullied into resigning. “I’m not going to be forced to step down because of some tweets,” she stated. “As a Federal Reserve member, I take my financial history seriously and aim to present accurate information.”
During her confirmation process, it was reported that Cook had claimed systemic racism was widespread in American society. In a discussion with Biden’s policy team back in June 2020, she mentioned focusing on “black percentages, not overall unemployment,” arguing that certain metrics provide better insight into economic health.
In response to Michael Linden, a senior advisor to the Office of Management and Budget, Cook affirmed, “I agree” with his assertion that black unemployment rates are more indicative of economic stability than traditional measures.
Cook has also emphasized racial disparities related to the coronavirus pandemic in a July 2020 podcast interview, stating, “It’s rooted in systemic racism.” In a debate in 2021, she argued that racism has contributed to the economy being significantly smaller than it could be.
In a 2019 speech commemorating Martin Luther King Jr., Cook asserted that “the lack of diversity was a significant factor in the financial crisis and the Great Recession.” She also expressed agreement with the notion that “American democracy survived Donald J. Trump.”
