Trump Calls On A Federal Reserve Governor To Resign
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Trump called on Federal Reserve Governor Lisa Cook to resign, intensifying his effort to gain influence over the central bank.
WASHINGTON, Aug 20 (Reuters) - U.S. President Donald Trump on Wednesday called on Federal Reserve Governor Lisa Cook to resign, intensifying his effort to gain influence over the central bank on the basis of allegations made by one of his allies about mortgages Cook holds in Michigan and Georgia.
U.S. Federal Housing Finance Agency Director Bill Pulte alleged in a post on X earlier on Wednesday that Cook had designated a condo in Atlanta as her primary residence after taking a loan on her home in Michigan, which she also declared as a primary residence.
Loans for a primary residence can carry easier terms than for second homes or investment properties. Pulte said the loans date to mid-2021, before Cook was appointed to the Fed by former President Joe Biden and confirmed by the Senate the following year. She is a native of Georgia and at the time was an economics professor at Michigan State University.
Pulte asked Attorney General Pam Bondi to investigate, and Trump quickly amplified the allegation. The Justice Department was taking the matter very seriously, a department official told Reuters.
Spokespersons for the Fed and for Cook did not immediately respond to a request for comment.
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