Summary
Donald Trump has removed Federal Reserve Governor Lisa Cook due to unproven claims of mortgage fraud. Trump cited allegations from a federal mortgage regulator and used his authority under the U.S. Constitution and the Federal Reserve Act for the removal.
Key Facts
- Donald Trump ordered the removal of Federal Reserve Governor Lisa Cook.
- The removal is based on unproven mortgage fraud claims.
- Trump cited powers from the U.S. Constitution and the 1913 Federal Reserve Act.
- Allegations were made by the U.S. federal mortgage regulator.
- Cook allegedly made false statements about mortgage agreements.
- Federal Housing Finance Agency Director Bill Pulte accused Cook of listing two primary home addresses.
- The decision raises questions about the independence of the Federal Reserve.
- The Federal Reserve has not responded to requests for comment.
