FX.co ★ Trump Ousts Fed Governor Lisa Cook Amid Mortgage Allegations

In a move to exert more control over the Federal Reserve, U.S. President Donald Trump announced on Monday his decision to dismiss Federal Reserve Governor Lisa Cook. Trump’s action comes in the wake of claims by his supporter, Bill Pulte, who accused Cook of providing false information on a 2021 mortgage application. Federal legislation stipulates that Fed governors can be removed solely “for cause,” and Trump asserted that Cook’s behavior constituted such grounds. In his correspondence to Cook, Trump stated, "The American public deserves complete trust in the integrity of those tasked with setting policy and overseeing the Federal Reserve. Given your misleading and potentially unlawful actions regarding a financial matter, this trust is compromised, and my confidence in your integrity is diminished.”