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Posted on 08/26/2025 1:52:46 AM PDT by Libloather
President Trump fired Federal Reserve Gov. Lisa Cook Monday over allegations that she committed mortgage fraud.
“Pursuant to my authority under Article Il of the Constitution of the United States and the Federal Reserve Act of 1913, as amended, you are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately,” Trump wrote in a letter addressed to Cook, which he posted on Truth Social.
Cook, however, argued that Trump has “no authority” to fire her and indicated that she’s not leaving her post, in a statement.
“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook said, according to multiple outlets. “I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022.”
The longtime academic, who previously served on former President Barack Obama’s White House Council of Economic Advisers and former President Joe Biden’s transition team, has hired former first son Hunter Biden’s lawyer, Abbe Lowell, to represent her.
In a statement, Lowell vowed to take “whatever actions are needed” to stop what he described as Trump’s “illegal action.”
Cook’s firing comes after Federal Housing Finance Agency Director Bill Pulte accused the Federal Reserve board member of falsifying bank documents and property records to secure better loan terms, in a criminal referral sent to Attorney General Pam Bondi last week.
Pulte alleged in an X post that Cook had designated a condo in Atlanta as her primary residence in July 2021, just two weeks after taking a loan on her Michigan home, which she also declared as a primary residence.
(Excerpt) Read more at nypost.com ...
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Trump needs to just put an end to the Federal Reserve all together!
That resting bitch face mug of hers is enough to fire her fat ass
She is Maxine Waters PRBF love child. No?
Trump can now charge her with trespassing.
Still waiting to hear from Powell on this!
Some Obama-appointed judge will reinstate her.
Getting rid of socialist/Marxist deadwood is complicated, but PDJT is on it. Good for him.
I bet she facilitated the transfer of massive transfers of USAID grift funds internationally to the jihadist Obamatrons.
Why is this slimy goon still in charge?
I guess Powell is just fine with having someone who has blatantly committed mortgage fraud on the Fed.
You don’t have to guess.
Going to be fun watching US Marshals “ask” her to leave…
Lock her out. Bring back DOGE
Just wondering,,,,,,Did she vote in both states? Does she pay state taxes to both states? Does she have a drivers license in both states?
Pres Evil Jill DEI obsession at work .
Dumb Obese Lesbo DEI corrupt and loves reparations and hates whitey .
Perfect Pres Adulteress Jill hire .
So a person on a FED committee setting interest rates for people wanting mortgages all across the country is committing mortgage fraud?
I’m at a loss for words to describe this further.
It’s really great news for Lisa. She can refinance at a lower rate now. Also, it’s hard to believe that Trump missed that she was a black woman with a black dot in the center of her forehead.
Now that would be something but I doubt congress would ever go along with it.
Another fat govment cheese liberal POS.
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