Fed Governor Lisa Cook Refuses Resignation Amid Mortgage Fraud Allegations

Federal Reserve Governor Lisa Cook has firmly rejected calls to resign following allegations of mortgage fraud raised by Federal Housing Finance Agency (FHFA) Director Bill Pulte, a close ally of President Donald Trump. Pulte alleged that Cook designated two homes as primary residences to obtain favorable loan terms and referred the matter to the Justice Department, though no charges have been filed. President Trump echoed these concerns, demanding Cook's immediate resignation on social media platforms. Cook responded by stating she will not be bullied into stepping down and is actively gathering accurate information to address legitimate questions about her financial history. This controversy arises amid broader tensions between Trump and the Federal Reserve, including his criticism of Fed Chair Jerome Powell. The Justice Department has yet to comment on whether it will investigate Pulte's referral, and the FHFA's focus on individual mortgage fraud cases is considered unusual.