Trump Calls For Fed Official To Resign ‘Now’ After Mortgage Fraud Allegations
President Donald Trump is demanding the resignation of Federal Reserve Governor Lisa Cook after she was accused of committing mortgage fraud. The call came after Federal Housing Finance Agency Director Bill Pulte urged the Justice Department to investigate Cook over allegations that she falsified documents to secure favorable loan terms.
Trump’s Demand
“Cook must resign, now!!!” Trump declared on Truth Social Wednesday, amplifying the scandal that threatens the credibility of the Federal Reserve. Trump has long been critical of the Fed and its leadership, and this controversy has intensified his attacks.
The Allegations
According to an August 15 letter sent by Pulte to Attorney General Pam Bondi, Cook allegedly claimed primary residency at two separate properties—one in Ann Arbor, Michigan, and another in Atlanta, Georgia—to obtain lower interest rates. Pulte accused her of falsifying property records and bank documents to gain financial advantages, calling the actions a potential violation of federal mortgage fraud laws.
“How can this woman be in charge of interest rates if she is allegedly lying to help her own interest rates?” Pulte posted on X. He added, “Do not declare two principal residences in President Trump’s America. Mortgage fraud is a serious crime and must be prosecuted as such.”
Political and Legal Fallout
Senator Rick Scott (R-FL) quickly seized on the controversy, demanding accountability within the Fed. He renewed his push for legislation to establish an independent inspector general, blasting the current lack of oversight. “The lack of accountability at the Federal Reserve under Chair Powell is out of control!” Scott wrote.
The Federal Reserve declined immediate comment, saying only that they would “be back in touch asap.”
Cook’s Background
Lisa Cook, a Biden appointee to the Fed Board of Governors, is scheduled to serve until 2038. She previously served in the Obama administration on the Council of Economic Advisers and taught at Harvard University’s Kennedy School of Government.
Trump vs. The Fed
The controversy comes as Trump continues his battle with Fed Chair Jerome Powell over interest rates. On Tuesday, Trump blasted Powell in another Truth Social post, saying, “People can’t get a Mortgage because of him. There is no Inflation, and every sign is pointing to a major Rate Cut.”
The allegations against Cook, combined with Trump’s renewed pressure on Powell, set the stage for a fierce political fight over both the credibility and independence of the Federal Reserve.