Trump Threatens to Fire Fed Governor Lisa Cook Over Mortgage Fraud Allegations
President Donald Trump said on Friday that he will dismiss Federal Reserve Governor Lisa Cook if she does not resign, intensifying his criticism of the central bank official amid allegations of mortgage fraud.
Speaking to reporters in Washington, Trump repeated his demand for Cook’s resignation just days after first making the call on social media. His remarks coincided with Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Symposium, where Powell signaled that the Fed could cut interest rates in September.
The president’s ultimatum follows a letter sent on August 15 by Federal Housing Finance Agency Director Bill Pulte to Attorney General Pam Bondi, requesting an investigation into Cook. Pulte, a close Trump ally, alleged that Cook may have falsified bank documents and property records to secure better loan terms—claims that could amount to mortgage fraud under federal law.
The allegations center on two mortgages reportedly obtained by Cook—one for a property in Ann Arbor, Michigan, and another in Georgia just two weeks later. Pulte claims that Cook declared both as her primary residence, despite later listing the Georgia property for rental.
Cook has strongly denied the accusations and rejected Trump’s pressure campaign. Earlier this week, she stated: “I have no intention of being bullied to step down from my position because of some questions raised in a tweet.”
The dispute adds to growing political tension between Trump and the Federal Reserve as debates over monetary policy, leadership, and accountability intensify.
