President Donald Trump has escalated pressure on Federal Reserve Governor Lisa Cook, publicly calling for her resignation in a Truth Social post. The move adds to a growing confrontation between the Trump administration and the central bank over monetary policy and Fed leadership.
A central figure in the campaign is Bill Pulte, head of a federal housing finance agency, who has been pushing allegations that Cook may have committed mortgage fraud. In a criminal referral sent to U.S. Attorney General Pam Bondi, Pulte claimed documents obtained from federal housing authorities suggest Cook may have falsified bank documents and property records to secure more favorable loan terms. The complaint specifically referenced occupancy representations tied to properties in Ann Arbor, Michigan, and Atlanta, Georgia.
Pressure on the Fed intensifies
The dispute comes as Trump and his allies continue pressing Federal Reserve officials to cut interest rates or step aside. Cook recently voted with Fed Chair Jerome Powell to keep rates unchanged, a position also backed by most members of the Federal Open Market Committee, with Michelle Bowman and Christopher Waller noted as exceptions.
The political backdrop is also significant. Less than three weeks earlier, another Fed governor, Adriana Kugler, stepped down and was replaced by Trump ally Stephen Miran. If the allegations against Cook gain further traction, she could become the next major figure caught in Trump’s broader battle with the Fed.
Cook’s background under scrutiny
According to her public profile, Cook studied at Oxford and earned a Ph.D. in economics from the University of California, Berkeley. She has served as an economics professor at Michigan State University for more than 20 years and previously worked as a senior economist on the White House Council of Economic Advisers during the Obama administration. For now, the claims remain allegations, but the case is likely to draw close attention from markets, policymakers, and political observers.