Following mortgage fraud claims, Trump threatens to sack Fed Governor
(MENAFN) U.S. President Donald Trump announced Friday that he will remove Federal Reserve Governor Lisa Cook from her position if she does not resign following allegations of mortgage fraud.
“What she did was bad,” Trump told reporters during an unplanned visit to The People’s House museum in Washington. “So I’ll fire her if she doesn’t resign.”
Earlier this week, the Federal Housing Finance Agency director accused Cook of falsely designating two separate homes as her primary residence. A criminal referral was reportedly sent to the Justice Department, which has confirmed it has opened an investigation.
Cook, who was appointed to the Fed by former President Joe Biden, has denied any wrongdoing. She stated she has “no intention of being bullied to step down” and is reviewing records to address the allegations.
Reports note that Cook has consistently aligned with Fed Chair Jerome Powell in voting to maintain current interest rate levels.
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