President Donald Trump has called for Federal Reserve Governor Lisa Cook to resign following allegations of mortgage fraud.
According to CNN, the claims were raised in a letter from Federal Housing Finance Agency Director Bill Pulte, a Trump ally, who urged the Justice Department to investigate. Pulte alleged that Cook misrepresented her primary residence on two mortgages in 2021.
Trump echoed those accusations on his social media platform, demanding Cook step down. The Federal Reserve has not yet responded to requests for comment.
The controversy marks the latest escalation in Trump’s pressure campaign on the Fed, which he has urged to lower interest rates. Fed Chair Jerome Powell is expected to signal possible cuts at the upcoming Jackson Hole symposium.
If Cook resigns, only two governors appointed solely by Democrats would remain on the seven-member board, further shifting the balance at the central bank.
