President Trump is reportedly considering whether he can fire Lisa D. Cook, a Federal Reserve governor who was accused this morning of mortgage fraud by Bill Pulte, director of the Federal Housing Finance Agency.
Trump posted a message on his Truth Social website demanding Cook’s immediate resignation. The Wall Street Journal, sourcing its coverage from “a senior White House official and another person familiar with the matter,” reports Trump and his aides discussed firing Cook if she doesn’t resign.
Pulte announced on his personal X account that he made a criminal referral to the Department of Justice claiming that Cook committed mortgage fraud in 2021 when she took out mortgages on two properties, one in Michigan and one in Atlanta, but listed both as her primary residence. Pulte posted images of what appear to be Cook’s signature on documents but offered no other evidence regarding a crime.
Pulte ignored questions posed to him on X on who authorized an investigation into Cook’s mortgage papers.
Cook issued a statement that said, “I learned from the media that FHFA Director William Pulte posted on social media that he was making a criminal referral based on a mortgage application from four years ago, before I joined the Federal Reserve. I have no intention of being bullied to step down from my position because of some questions raised in a tweet. I do intend to take any questions about my financial history seriously as a member of the Federal Reserve and so I am gathering the accurate information to answer any legitimate questions and provide the facts.”
There is no precedent for president firing a Federal Reserve governor. According to a 1935 law, a president can only fire a Fed official “for cause,” which would include malfeasance, neglect of duty, or inefficiency. A Supreme Court ruling in May said the Fed differed from other agencies because it “is a uniquely structured, quasi-private entity,” thus prohibiting the president from making terminations at will.
Trump and Powell have tried to stir up a controversy that Fed Chairman Jerome Powell enabled significant cost overruns on the renovations at the central bank, which they insisted could be used as a “for cause” firing. But except for a few Trump loyalists, no Republican lawmakers in Congress have called for Powell’s firing.
Cook was nominated to the Fed’s seven-member board of governors by President Biden in 2022 for a term that runs through 2038.
Pulte should be fired for disclosing personal information. She should sue him for posting anything on a Personal X Account. Time for the social roasts to stop. Trump should lose the rights to hide also….if you want to post lies, you should be held accountable. Also, Trump was convicted of Mortgage Fraud….Why isn’t he firing himself.
YES!!!!!
It’s not just that no one is above the law. It’s that these “public servants” should be MORE accountable.
Sounds like Milton has a bad case of TDS 😂 because yes, they did show the proof. Not only that she was renting out her supposed primary address.
I can guarantee you if I got caught with mortgage fraud I would be in huge trouble too.
And this is the feds!!