Trump Fires Fed Reserve Gov. Lisa Cook over Mortgage Fraud Allegations
President Donald Trump dismissed the governor of the Federal Reserve Lisa Cook on Monday for allegations of mortgage fraud.
In a letter from Trump to Cook which was published on social networks, the president said that he had “a sufficient cause” to withdraw it, citing his allegations of mortgage fraud.
“I determined that there is a sufficient cause to withdraw from your position,” wrote Trump.
Appointed by former President Joe Biden in 2022, Cook was recently accused by the head of the Federal Housing Finance Agency, Bill Pulte, of having committed mortgage fraud by scoring two main residences. The president undertook to dismiss her if she does not resign.
“In his first allegations, Pulte included photographs of signatures of documents apparently belonging to Cook which would have applied to two different primary residences, one in Michigan and another described as a” Atlanta condo “, according to the Hill.
Cook refused to resign despite the president’s requests, saying that it would not be “intimidated to withdraw from my position because of certain questions raised in a tweet”.
“I intend to respond seriously about my financial history as a member of the federal reserve and I therefore collect precise information to answer all legitimate questions and provide the facts,” Cook said in a statement.
In his letter, the president said that the alleged actions of Cook weaken the confidence of the Americans in the federal reserve.
“The federal reserve has a huge responsibility to set interest rates and regulate reserve banks and members,” wrote Trump. “The American people must be able to have fully confidence in the honesty of the members responsible for defining a policy and supervising the federal reserve. In the light of your misleading and potentially criminal conduct in financial matters, they cannot and I do not have such confidence in your integrity. ”
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