President Trump called on Federal Reserve Governor Lisa Cook to resign after an ally alleged she made false statements on mortgage applications. Bill Pulte sent a letter to Attorney General Pam Bondi seeking an investigation of two mortgage applications Cook filed in 2021. The paperwork listed a Michigan house and a Georgia condo as Cook's primary residence even though the condo was listed as a rental two months later. Cook was appointed to the Fed board in 2022 and recently voted with colleagues to hold interest rates steady. Neither Cook nor the Fed has responded to the allegations.
President Trump called on Federal Reserve Governor Lisa Cook to resign following allegations from a Trump ally that Cook made false statements on mortgage applications. The move comes as the president is in the midst of a high-pressure campaign to get the central bank to lower interest rates. Cook, who was appointed to the Fed board by then-President Joe Biden in 2022, voted with a majority of her colleagues to hold interest rates steady last month.
The letter, which Pulte posted on social media Wednesday, says Cook sought mortgages on a house in Michigan and a condo in Georgia two weeks apart. The paperwork said each property would be used as Cook's primary residence, though the Georgia condo was listed as a rental two months later. Lenders often give more favorable terms for loans on a borrower's primary home.
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