President Donald Trump has intensified his campaign to reshape the Federal Reserve’s leadership by demanding the resignation of Governor Lisa Cook. In a recent statement, Trump accused Cook of mortgage fraud, claiming her actions have resulted in billions of dollars in financial losses. The administration has announced its intention to refer the case to criminal investigators, marking a significant escalation in the political pressure on the central bank.
Cook, who has been a member of the Federal Reserve Board of Governors since 2020, has faced scrutiny over her role in the mortgage industry. The allegations come as part of a broader strategy by Trump to challenge the current administration’s economic policies, which he claims have led to systemic failures in the housing market. The White House has framed the issue as a matter of national economic accountability, urging immediate action to remove Cook from her position.
Experts have pointed out that the allegations against Cook are politically motivated, with many questioning the validity of the claims. Nevertheless, the situation has created significant tension within the financial sector, as the potential removal of a key Fed official could lead to further instability in monetary policy. The Trump administration’s approach highlights growing concerns about the influence of political agendas on economic decision-making, raising questions about the future direction of U.S. monetary policy.