Trump Escalates Pressure on Fed Governor Cook Amid Fraud Allegations

President Donald Trump has intensified his campaign against the Federal Reserve by demanding the resignation of Fed Governor Lisa Cook, following allegations of mortgage fraud leveled against her by Federal Housing Finance Agency (FHFA) Director Bill Pulte, a Trump ally. Pulte accused Cook of illegally designating two separate homes as her primary residence to secure favorable mortgage terms and has called for a Department of Justice investigation. Trump echoed this call on his Truth Social platform, framing the issue as one of legal and economic misconduct rather than politics. The administration's pressure on the Fed also includes criticism of Chair Jerome Powell over interest rate policies and Fed spending decisions. However, legal experts note that Fed governors can only be removed for cause, typically serious misconduct, limiting Trump's ability to force Cook's ouster. This escalation reflects the broader Trump administration strategy to exert influence over the Fed amid ongoing economic and political tensions.