Trump says he will fire Fed’s Cook if she doesn’t resign

Investing.com -- President Donald Trump said Friday he will fire Federal Reserve Governor Lisa Cook if she does not resign, escalating his criticism of the central bank official amid allegations of mortgage fraud.

Speaking to reporters in Washington, Trump reiterated his demand for Cook’s departure, days after initially calling for her resignation on social media. The president’s comments came as Fed Chair Powell delivered remarks at Jackson Hole, where he signaled openness to cutting interest rates in September.

Trump’s threat follows a letter from Federal Housing Finance Agency Director Bill Pulte to Attorney General Pam Bondi on August 15, requesting an investigation into Cook. Pulte, a Trump ally, alleged Cook may have "falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute."

The allegations center on two mortgages Cook reportedly took - one on an Ann Arbor, Michigan property and another on a Georgia property two weeks later. According to Pulte, Cook declared each would be her primary residence for at least a year, and later listed the Georgia property for rental.

Cook has firmly rejected Trump’s calls for her resignation, stating earlier this week: "I have no intention of being bullied to step down from my position because of some questions raised in a tweet."

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