IS COOK COOKED? President Donald Trump called for Federal Reserve Board member Lisa Cook to resign Wednesday after the head of the agency that regulates housing finance accused her of mortgage fraud.
Cook is a Georgia native and the first Black woman to serve on the board. Bill Pulte, the Trump-appointed director of the Federal Housing Finance Agency, said he referred Cook to the Department of Justice after discovering she had named two properties as her primary residence.
Trump has been trying to remake the Fed to exert more influence, particularly over a decision on whether to adjust interest rates. But board members can only be removed “for cause,” and policy differences are not considered reason enough.
“Cook must resign, now!!!” Trump posted on Truth Social.
Cook, whose term does not end until January 2038, released a statement issued through the Fed saying she was staying put, the Associated Press reported.
“I have no intention of being bullied to step down from my position because of some questions raised in a tweet,” Cook said in a statement issued by the Fed. But she said she would look into the concerns raised by Pulte.
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