Lisa Cook, governor of the US Federal Reserve, through the Federal Reserve Integrated Review of the Capital Framework for Large Banks Conference in Washington, DC, US, on Tuesday, July 22, 2025.
Al Drago | Bloomberg | Getty Images
Commerce Secretary Howard Lutnick advised Tuesday that Federal Reserve Board Governor Lisa Cook‘s refusal to willingly leave workplace after President Donald Trump stated he was firing her supported the declare that she had dedicated mortgage fraud.
“A governor of the Federal Reserve actually indicators her identify and commits mortgage fraud, proper?” Lutnick stated on CNBC’s “Squawk Box,” a day after Trump advised Cook he was ousting her from the central financial institution.
“It’s alleged that she’s committed mortgage fraud, and she says ‘I’m not going anywhere,'” Lutnick stated.
“Well, the crook always says ‘I’m not going anywhere.'”
Howard Lutnick, U.S. Secretary of Commerce speaks through the Pennsylvania Energy And Innovation Summit 2025 at Carnegie Mellon University in Pittsburgh on July 15, 2025.
David A. Grogan | CNBC
Cook stated Monday night time that Trump “has no authority” to fireplace her as a result of he lacked any authorized trigger to take action.
“I will not resign,” stated Cook, who has not been charged or convicted of any crime.
She has employed high-powered Washington, D.C., lawyer Abbe Lowell to combat her ouster. The Supreme Court might find yourself resolving the dispute.
CNBC has requested remark from Lowell on Lutnick’s statements about Cook.
The Justice Department is investigating Cook after Federal Housing Finance Agency Director Bill Pulte alleged she made false statements on functions for dwelling mortgages.
Pulte has echoed Trump’s criticisms of Federal Reserve Chair Jerome Powell and the central financial institution for refusing to decrease rates of interest. Cook has been among the many governors voting to carry charges regular.
Lutnick on Tuesday stated, “The real question should be, did she commit mortgage fraud?”
“Yes or no, and if you did commit mortgage fraud, please get out of the federal government,” he stated. “Get out of the seat of the governor of the Federal Reserve and go away. You don’t deserve to be there if you’ve committed mortgage fraud, right?”
Lutnick stated he didn’t know who had the authority to halt Cook from being paid, or to show off her bodily entry to the Fed.
And he punted when requested if Trump would attempt to hearth Powell for trigger if the Fed chair didn’t lower off Cook’s pay and constructing entry.
“These are all ‘what-if scenarios,'” Lutnick stated.
“The answer is, the Department of Justice will go take this on and deal with this,” he stated.
“But the fact is, if this woman committed mortgage fraud, she should be respectful to the United States of America, to the Federal Reserve, where she says she cared about them, and she should go off into the sunset and hope to God the police don’t follow her, right?”
“I mean, imagine anyone in the Cabinet who did this. You guys would be calling for their head,” Lutnick stated.
“This woman should go away if she’s committed to mortgage fraud, and those signatures sure as heck look like hers.”