Tag: Bill Pulte

Federal Reserve shake-up: Trump removes Governor Lisa Cook after mortgage fraud referral

President Trump removed Fed Governor Lisa Cook after FHFA Director Bill Pulte accused her of mortgage fraud tied to two properties labeled as primary residences within two weeks in 2021. Cook denies wrongdoing and says the loan predated her Fed service. A criminal referral went to Attorney General Pamela Bondi. The move raises legal questions about presidential power to fire Fed governors and the future of Fed independence.