Trump Fires Fed Governor Lisa Cook Amid Mortgage Fraud Allegations: She Refuses to Resign!

2025-08-26 06:00:10.435

President Trump fired Federal Reserve Governor Lisa Cook on Monday, citing allegations of mortgage fraud. The firing, announced via a letter posted on Truth Social, was immediately challenged by Cook, who stated that Trump lacks the authority to remove her and that she will not resign. Cook has hired Abbe Lowell, lawyer to Hunter Biden, to represent her. The allegations stem from a criminal referral by Federal Housing Finance Agency Director Bill Pulte, who accused Cook of falsifying documents to secure favorable loan terms. Pulte alleges Cook falsely designated a condo as her primary residence while simultaneously claiming her Michigan home as her primary residence for another loan. Trump cited Pulte's referral as justification for the firing, arguing that Cook's actions call into question her competence and trustworthiness. Cook's dismissal creates a third vacancy on the Fed board and comes amid Trump's ongoing criticism of the Fed and Chairman Jerome Powell. Trump plans to nominate a new Fed chair and another governor in the coming months.