Federal Reserve Governor Lisa Cook is vowing to fight President Donald Trump’s attempt to fire her over allegations of mortgage fraud. Cook, the first Black woman on the Fed board, hired high-profile attorney Abbe Lowell, insisting Trump has “no authority” to remove her.
Trump posted a letter Monday citing evidence that Cook misrepresented her primary residence on mortgage documents in 2021. He argued this amounted to mortgage fraud and said she could not be trusted to shape monetary policy.
🚨BREAKING: President Trump has FIRED Federal Reserve Governor Lisa Cook after she was referred to the DOJ for mortgage fraud by Bill Pulte, Director of the Federal Housing Finance Agency.
— Charlie Kirk (@charliekirk11) August 26, 2025
Cook was appointed by Joe Biden in 2022.
How many government officials are committing… pic.twitter.com/9NPOVXwUZe
Democrats accused Trump of undermining the Fed’s independence, but administration officials insisted they are enforcing the law. Commerce Secretary Howard Lutnick told CNBC that if fraud occurred, Cook must step down.
The move, if upheld, would give Trump a majority on the Fed’s board. Critics warn it could politicize the central bank, while supporters argue the president is right to demand accountability at the highest levels of government.
