Trump Calls Fed Governor Cook Resign Over Mortgage Fraud Allegations

President Donald Trump has called for the resignation of Federal Reserve Governor Lisa Cook following a referral sent by Federal Housing Finance Agency Director Bill Pulte to the Department of Justice alleging mortgage fraud. Pulte accused Cook of falsifying bank documents and residence statuses for properties in Michigan and Georgia to secure more favorable loan terms, potentially committing mortgage fraud. Cook, a Biden appointee and the first Black woman to serve on the Fed board, has a permanent vote on the rate-setting committee, which makes her a significant figure in U.S. monetary policy. This move is part of a broader campaign by Trump and his allies targeting prominent Democrats and applying pressure on the Federal Reserve to lower interest rates amid criticism of Chair Jerome Powell. The allegations and political pressure come at a sensitive time as the Fed’s annual meeting in Jackson Hole approaches, raising concerns about the institution's independence and credibility. The Federal Reserve has declined to comment, and investigations by the Justice Department and FHFA are pending.