Tag: Federal Reserve
Federal Reserve shake-up: Trump fires Governor Lisa Cook amid mortgage fraud claims
President Trump fired Fed Governor Lisa Cook, citing mortgage fraud allegations tied to 2021 occupancy claims. Cook, appointed by President Biden and confirmed in 2023, is expected to challenge the move. The Justice Department is reviewing a referral from Trump ally Bill Pulte. The dismissal tests the legal limits of presidential power over the Fed and could reshape the central bank’s independence.
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.
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