Trump Demands Resignation of Fed Governor Lisa Cook Amid Mortgage Fraud Allegations

President Donald Trump has called for the resignation of Federal Reserve Governor Lisa Cook following serious allegations of mortgage fraud made by William Pulte, director of the U.S. Federal Housing Finance Agency. Pulte’s claims suggest that Cook falsified bank documents to secure more favorable loan terms, potentially committing mortgage fraud. This explosive accusation has led Trump to demand Cook’s immediate resignation through a post on Truth Social.

Pulte has filed what he termed a “criminal referral” to Attorney General Pam Bondi, asserting that Cook manipulated her residence statuses concerning properties in both Ann Arbor, Michigan, and Atlanta, Georgia. He has urged the Justice Department to investigate these allegations, which intensifies the scrutiny surrounding the financial dealings of prominent Democratic figures.

In response, Cook rejected Pulte’s claims, emphasizing that she learned of the alleged fraud via media outlets and asserting her commitment to addressing any legitimate inquiries regarding her financial history. Cook stated she would not be intimidated into resigning based on a tweet, reinforcing her position within the Federal Reserve as the first Black woman to serve on its board since its inception over a century ago.

The timing of Pulte’s accusations aligns with Trump’s increasing pressure on the Federal Reserve to lower interest rates, reflecting a broader strategy that attempts to undermine the credibility of the central bank while diverting attention from other economic issues. Pulte has openly criticized Fed Chair Jerome Powell, though, notably, Powell lacks the authority to dismiss a sitting governor.

The Justice Department, as well as the FHFA, have not yet commented on the matter. Cook’s lengthy term as a member of the Federal Reserve, appointed by President Biden, adds further complexity to the already politically charged atmosphere surrounding these allegations and Trump’s ongoing attempts to manipulate federal institutions for his political benefit.