President Trump called for the removal of Federal Reserve Governor Lisa Cook after FHFA chief Bill Pulte accused her of mortgage fraud and said he submitted evidence to the Department of Justice. Pulte alleged Cook designated an Atlanta condo as her primary residence two weeks after taking a loan on a Michigan home she also declared primary. Trump demanded Cook resign on Truth Social and shared news coverage of the allegations. The dispute adds to administration tensions with the Fed and Chair Jerome Powell over interest-rate policy. Powell has said he will not leave his post if the president attempts early removal.
President Donald Trump is calling for an ouster at the Federal Reserve and for once, it's not Jerome Powell. Trump spoke out against Fed Governor Lisa Cook after his Federal Housing Finance Agency chief Bill Pulte accused her of mortgage fraud in a series of X posts Wednesday. Pulte claimed that Cook used an Atlanta condo as her primary residence, two weeks after taking a loan on a Michigan home she also declared as her primary residence.
Trump's attack is yet another salvo in the Trump administration's war against the Fed and Powell, its much-maligned chair, over his refusal to lower interest rates. Calling Powell everything from too late to a loser, Trump has even threatened to sue him over the incompetent job he has done in managing the construction of the Fed Buildings. Despite continued social media attacks on Powell, Trump indicated earlier this month that he would not fire him because doing so would be very disruptive.
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