In response to his previous criticism of Fed Chair Jerome Powell for delaying interest rate cuts, President Donald Trump increased pressure on the US central bank on Wednesday, demanding the resignation of Federal Reserve Governor Lisa Cook.
Cook has to step down immediately!” Trump shared a Bloomberg news story on his Truth Social platform about the director of the Federal Housing Finance Agency calling for more investigation into Cook’s two mortgages.
A strong supporter of Trump, FHFA director Bill Pulte, allegedly wrote to the US attorney general requesting an investigation into Cook and raising the possibility that she had committed a crime.
Allegations of mortgage fraud have been pursued by the Trump administration against prominent Democrats who are perceived as the president’s political rivals. It was unclear at first whether Cook, the first Black woman to serve on the central bank’s board, would be the subject of such an investigation. The president’s power to dismiss central bank personnel is likewise constrained.
A recent ruling by the Supreme Court implied that Fed officials must be removed for “cause,” which may be read as misconduct, rather than for policy disputes.
Also Read:
PTSA’s Holistic Approach In Shaping The Future Of Football: Mohamad Adlouni
