US Fed governor Cook rejects Trump’s call to resign, has ‘no intention of being bullied to step down’
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More news: US Federal Reserve governor Lisa Cook defied calls from Donald Trump to resign, saying she has “no intention of being bullied to step down” after Federal Housing Finance Agency director Bill Pulte urged the Justice Department to investigate alleged irregularities in her mortgage applications.
What they said: Cook said in a statement that she only learned from the media that Pulte had posted on X about making a criminal referral based on a mortgage application from four years ago, before she joined the Fed in 2022.
“I have no intention of being bullied to step down from my position because of some questions raised in a tweet,” she said.
“I do intend to take any questions about my financial history seriously as a member of the Federal Reserve and so I am gathering the accurate information to answer any legitimate questions and provide the facts.”
Trump calls for resignation of Fed Governor Lisa Cook
The news: US President Donald Trump has called on Federal Reserve governor Lisa Cook to resign, after one of his government advisors accused Cook of mortgage fraud.
The context: Trump wrote on a Truth Social post: “Cook must resign, now!!!” on Wednesday morning, hours after head of the Federal Housing Financing Agency and ally of the president, Bill Pulte, made the accusation.
Pulte published a letter via social media calling on Attorney General Pam Bondi to investigate Cook over two mortgages, adding that he would submit the information to the Justice Department in a criminal referral.
Pulte alleges that Cook sought mortgages on two properties, describing both of them as her primary residence, in applications filed 14 days apart. He claims that one of the homes was later advertised for rent. Pulte alleges that Cook “appears to have acquired mortgages that do not meet certain lending requirements and could have received favorable loan terms under fraudulent circumstances.”
Pulte cited four criminal statutes for Bondi to investigate for potential charges.
Pulte’s post on X includes images of what appear to be the signature of Cook but no other supporting evidence is provided.
“When someone commits mortgage fraud, they undermine the faith and integrity of our System,” Pulte wrote.
The comments are the latest attack from the Trump administration toward the US Federal Reserve and staff. Trump has repeatedly berated Fed chair Jerome Powell over his refusal to comply with the president’s wishes to cut interest rates, as well as blasting the Reserve for a USD2.5 billion ($3.9 billion) renovation of the bank’s Washington headquarters.
The sources: Bill Pulte letter, WSJ
