Fed's Cook responds to Trump firing threat, calls attacks "unfounded and untrue"
Summary
Federal Reserve Governor Lisa Cook responded to President Trump’s attempts to remove her, denying accusations of mortgage fraud and saying she never committed wrongdoing. Cook’s lawyer said the claims are false and that the president cannot fire her without proper legal cause.Key Facts
- President Trump tried to fire Lisa Cook over allegations of mortgage document misrepresentation.
- The accusations came from Bill Pulte, head of the Federal Housing Finance Agency.
- Cook has been on the Federal Reserve Board since the Biden administration.
- She filed a lawsuit claiming her removal violated federal law, which limits firing Fed governors except “for cause.”
- The Supreme Court allowed Cook to stay on the Fed Board while her case continues.
- The White House says Cook signed contradictory mortgage documents about her primary residence.
- Cook’s lawyer said the document issue was a mistake made before she joined the Fed and not intentional fraud.
- The White House also accuses Cook of not disclosing rental income, but her lawyer says she never actually rented the property.
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