The Director of the Federal Housing Finance Agency, Bill Pulte, has raised allegations against Federal Reserve member Lisa Cook, calling for her resignation or firing.
Mortgage Fraud Allegations
Bill Pulte stated that Cook had prepared mortgage documents in a way that listed two properties simultaneously as her primary residence, which he perceives as 'clear mortgage fraud.' Pulte commented, 'You can't do that in America. If you committed fraud, it will be clearly exposed and you will be prosecuted.'
Trump's Response
After Cook sent a letter to the Department of Justice requesting an investigation into her actions, Trump supported Pulte's call, tweeting, 'He must resign now!'
Political Implications
If Cook were to resign, it could potentially give Trump a majority among Fed members who support interest rate cuts. Additionally, it would pave the way for Trump-affiliated candidates to fill the 12 regional Fed chair positions that are up for renewal in February.
The allegations against Lisa Cook raise significant questions about transparency and accountability among officials. The political atmosphere surrounding the Fed remains tense amid increasing pressure from Trump.
