In a recent post on Truth Social, former President Donald Trump demanded that Federal Reserve Governor Lisa Cook "must resign, now!!!" This bold statement follows allegations made by William Pulte, the director of the U.S. Federal Housing Finance Agency (FHFA), who accused Cook of serious misconduct. Pulte's allegations suggest that Cook may have falsified bank documents and property records in order to secure more favorable loan terms, potentially amounting to mortgage fraud.
Pulte's claims were detailed in a letter addressed to Attorney General Pam Bondi, which he described as a "criminal referral." In this letter, he stated that his agency had obtained Cook's mortgage documents and urged the Justice Department to investigate the matter thoroughly. Pulte further alleged that Cook misrepresented her residence statuses for properties located in Ann Arbor, Michigan, and Atlanta, Georgia.
This letter regarding Cook's mortgages intensifies the scrutiny surrounding prominent Democratic figures, including California Senator Adam Schiff and New York Attorney General Letitia James. The growing concerns over their financial dealings are part of a broader narrative that is pressuring the Federal Reserve to reconsider its current policies, particularly regarding interest rates.
Pulte has been vocal on social media, calling for Federal Reserve Chair Jerome Powell to either resign or lower interest rates. His recent attendance at Trump's tour of the Federal Reserve's headquarters renovation highlights his alignment with the former president's views on the central bank's policies. Cook serves as a permanent member of the Federal Reserve's rate-setting committee, having been appointed by President Joe Biden to a term that extends until 2038.
Prior to her appointment to the Federal Reserve, Cook was a respected professor of economics at Michigan State University. She holds degrees from Spelman College and Oxford University, making her a trailblazer in the field of economics as the first Black woman to serve on the Federal Reserve board in its over 100-year history.
As of now, the Federal Reserve has declined to comment on Trump's post made on Wednesday. Additionally, both the Justice Department and the FHFA have not provided immediate responses to inquiries regarding the allegations against Cook.
