President Donald Trump is demanding the resignation of Federal Reserve Governor Lisa Cook, following a criminal referral from Federal Housing Finance Agency (FHFA) Director Bill Pulte. The referral urges the Department of Justice to investigate Cook for alleged mortgage fraud.
“Cook must resign, now!!!” Trump declared emphatically on Truth Social on Wednesday morning.
Trump’s call adds weight to growing scrutiny surrounding Cook, a Biden appointee whose term extends to 2038. As of this article’s publication, Cook’s office has not issued a public response.
The pressure follows recent developments inside the Federal Reserve system. In August 2025, Governor Adriana Kugler stepped down early, allowing Trump to nominate Stephen Miran as her replacement.
With Cook potentially on her way out, Trump could secure a 5-2 majority on the Fed Board — a significant shift that could influence interest rate policy and broader economic direction. While Chair Jerome Powell was originally a Trump pick, the two have frequently clashed in public, especially during Trump’s presidency.
Pulte has also emerged as a vocal critic of the Federal Reserve, publicly denouncing Chair Jerome Powell.
The Financial Times continues:
The calls are the latest attack from the Trump administration on the US central bank and its staff. The president has called Powell a “numbskull and a “moron” over his refusal to comply with Trump’s wishes to aggressively cut interest rates. Trump has also sharply criticised a $2.5bn renovation of the Fed’s headquarters in Washington.
In the letter, posted on social media site X, Pulte alleged that Cook had declared in financial documents that two homes bought within months of each other would both be her primary residence. Pulte claimed one of the homes was later advertised for rent.
Some legal observers warn that Trump’s aggressive posture toward the Fed could threaten the institution’s long-standing independence. The central bank has historically sought to avoid overt political influence in order to preserve public trust and market stability.
The DOJ has not commented on whether it will pursue an investigation into Cook.
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Has she fired back that the charges are Racist? If not, give her time to do so.