Trump Fires Fed Governor Lisa Cook
(MENAFN) US President Donald Trump announced on Monday that he had officially removed Federal Reserve Governor Lisa Cook from her role, citing claims of mortgage fraud as the reason for her ousting.
In a message shared on the social media platform Truth Social, which is under Trump's ownership, he informed Cook, “you are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately.”
Trump justified the termination by referencing a criminal complaint that accuses Cook of signing inconsistent mortgage paperwork related to properties located in Michigan and Georgia.
He wrote, “It is inconceivable that you were not aware of your first commitment when making the second,” expressing disbelief over the alleged actions.
Trump further stated that “The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve. In light of your deceitful and potentially criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity.”
He emphasized that the trust required for such a high-level financial role had been compromised.
This decision follows a previous warning from Trump issued the week before, in which he advised Cook to resign or face removal.
Lisa Cook, appointed to the Federal Reserve Board of Governors by former President Joe Biden in 2022, has firmly denied any misconduct.
She also stated that she has “no intention of being bullied to step down.”
The allegations against her came to light after Federal Housing Finance Agency director Bill Pulte—an outspoken opponent of Fed Chair Jerome Powell—accused her of mortgage fraud and passed the case on to the Justice Department.
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