Lisa Cook, member of the Board of Governors of the US Federal Reserve, attends a Federal Reserve Board open assembly discussing proposed revisions to the board’s supplementary leverage ratio requirements on the Federal Reserve Board constructing in Washington, DC, on June 25, 2025.
Saul Loeb | AFP | Getty Images
President Donald Trump on Wednesday demanded that Federal Reserve Governor Lisa Cook resign after a U.S. housing company chief referred to as on the Department of Justice to launch a felony mortgage fraud investigation into the central financial institution official.
“Cook must resign, now!!!” Trump wrote in a Truth Social publish that linked to a Bloomberg report on the allegations that Bill Pulte, director of the Federal Housing Finance Agency, has lodged towards Cook.
Pulte, who has aggressively backed Trump’s assaults on the Fed and its chairman, Jerome Powell, tore into Cook at size on social media on Wednesday morning.
“Lisa Cooked is cooked,” he wrote in a single post.
He later wrote that he believes Trump “has cause to fire” the Fed governor, who was nominated by former President Joe Biden in 2022.
It’s the most recent instance of the Trump administration airing allegations of mortgage-related wrongdoing towards the president’s opponents. The Justice Department is investigating Sen. Adam Schiff, D-Calif., and New York Attorney General Letitia James on related grounds.
The remarks additionally present Trump’s is increasing his efforts for the Fed to slash rates of interest, a strain marketing campaign that has principally targeted on Powell.
Cook voted with the bulk on the Federal Open Market Committee to maintain charges unchanged after the group’s newest assembly final month.
The Fed and the DOJ declined CNBC’s requests for touch upon Pulte’s claims and Trump’s response.
Pulte wrote within the letter dated Aug. 15 that mortgage paperwork obtained by FHFA seem to point out Cook “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud.”
He accused Cook of “falsifying residence statuses” for a residence in Ann Arbor, Michigan, and a property in Atlanta, Georgia “in order to potentially secure lower interest rates and more favorable loan terms.”
For each properties, Cook “appears to have acquired mortgages that do not meet certain lending requirements and could have received favorable loan terms under fraudulent circumstances,” Pulte alleged.
Pulte in his social-media spree Wednesday morning additionally wielded his claims about Cook towards Powell.
“I hear Jay Powell is scrambling this morning. He can scramble all he wants, but he might as well be scrambling eggs, because the party at the Fed is OVER!” he wrote at one level.
He claimed in one other post, “Powell must look into it or he is complicit.”
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