Trump Pressures Fed Governor Lisa Cook to Resign; She Refuses to Be ‘Bullied’

President Donald Trump has intensified his pressure campaign on the Federal Reserve, publicly demanding the resignation of Fed Governor Lisa Cook after one of his allies alleged she committed mortgage fraud.

The allegations stem from a letter sent by Federal Housing Finance Agency Director Bill Pulte, a vocal Trump ally, to the Justice Department. Pulte claimed that Cook obtained two mortgages in 2021—one for a property in Michigan and another in Georgia—each declaring the property as her primary residence. He alleged that the conflicting applications may have violated federal law.

Trump amplified the accusations on social media, writing, “Cook must resign, now!!!”

Cook, however, pushed back, vowing not to step aside. “I have no intention of being bullied to step down from my position because of some questions raised in a tweet,” she said. Cook emphasized that she takes questions about her financial history seriously and is gathering documentation to address them.

Pulte has frequently used his position to attack the Fed, particularly Chair Jerome Powell, for not lowering interest rates more quickly. He insisted his call for Cook’s resignation was not political, saying, “There can be no mortgage fraud… it wouldn’t matter if she were a Republican or a Democrat.”

The confrontation marks the latest flashpoint in Trump’s tense relationship with the central bank. The president has repeatedly pressured Powell and other Fed officials to cut interest rates, despite signs that inflation has cooled. Powell, whose term as chair runs until 2026, has resisted direct political interference and has so far avoided responding to Trump’s attacks.

Analysts say Cook has little incentive to resign before the Fed’s upcoming meeting, noting that stepping down would not stop any potential investigation. If she were to leave, only two Democratic-appointed governors would remain on the seven-member Fed board.

Cook, the first Black woman appointed to the Fed’s Board of Governors, continues to serve as policymakers gather in Jackson Hole, Wyoming, for the annual economics symposium, where Powell is expected to signal the likelihood of a rate cut in September.

Credit: CNN Newsource

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