by Misty Severi
President Donald Trump on Monday night escalated his conflict with Federal Reserve Governor Lisa Cook by removing her from the Fed’s board.
The move comes after Trump urged the governor to resign her post last week over allegations that she may have committed mortgage fraud before she took her place on the Federal Reserve Board. Cook declined Trump’s call to resign.
Federal Housing Finance Agency Director William Pulte notified Attorney General Pam Bondi earlier this month that Cook allegedly “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud.”
“The Federal Reserve has tremendous responsibility for setting interest rates and regulating reserve and member banks,” Trump told Cook in a letter he posted to Truth Social. “The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve.
“In light of your deceitful and potentially criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity,” he continued. “I have determined that there is sufficient cause to remove you from your position.”
Pulte claimed Cook listed two residences as her primary, and the second place was listed as a primary residence weeks after she took out a loan on her Michigan home.
Alleged mortgage fraud has become a focal point for Department of Justice inquiries into Democratic officials, with California Sen. Adam Schiff and New York Attorney General Letitia James both facing scrutiny over their purchases.
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Misty Severi is a reporter for Just the News.
Background Photo “Federal Reserve Building” by AgnosticPreachersKid. CC BY-SA 3.0.
I would like to add that it’s about time the “elite” are held responsible for breaking the law. Let’s count them up; Letitia James, Chuck Shumer, and Ms. Cook, all being charged with mortgage fraud. We hard working, legal Americans are so sick and tired of the double standard where they can get away with murder (Ted Kennedy R.I.P.) and we have to follow the law.
Another democrat DEI hire. Look a Supreme Court Justice Jackson, she is in way over her head. Another example of the democrats putting race and gender ahead of actual qualifications. This is one of uncountable examples of why legal Americans have abandon the democratic party. And I’ll put money on it that progressive liberals would brand me a racist for even pointing this out. Too bad.