Trump Ally Seeks Fed Governor Cook Resignation Amid Fraud Claims

President Donald Trump has intensified his campaign against Federal Reserve officials by demanding the resignation of Fed Governor Lisa Cook over allegations of mortgage fraud brought forward by Bill Pulte, director of the Federal Housing Finance Agency and a Trump ally. Pulte referred Cook to the Justice Department for investigation, accusing her of improperly listing two properties as her primary residence, which Trump publicly supported, urging her immediate resignation. Cook, appointed in 2022 under the Biden administration and the first Black woman on the Fed board, has denied the allegations and refused to step down, stating she will cooperate fully with any legitimate inquiries. This move is seen as part of Trump's broader effort to influence the Federal Reserve toward cutting interest rates, which he argues will benefit the economy and housing industry, contrasting with the Fed’s recent steady rate policy under Chair Jerome Powell. The administration's pattern of targeting political adversaries with mortgage-related allegations continues, as seen previously with figures like Senator Adam Schiff and New York Attorney General Letitia James. Legal experts note that Fed officials can only be removed for cause, making direct dismissal challenging, but the pressure campaign reflects Trump's ongoing frustration with the Fed's monetary policies.