President Donald Trump has removed Federal Reserve Governor Lisa Cook from office, accusing her of making false statements on mortgage documents by declaring two separate primary residences.
The decision, which comes amid a Department of Justice investigation into potential mortgage fraud, marks the first time in U.S. history that a president has removed a sitting Federal Reserve governor.
In a letter, Trump said Cook’s alleged actions undermined public trust in the Fed and raised doubts about her integrity as a financial regulator.
Cook, appointed by President Joe Biden in 2022 and confirmed the following year, has not been charged with any crime, but her ousting could trigger a legal battle over presidential authority under the Federal Reserve Act.
Enosh should never have been put in that position
there is a rush around the world to fill positions with the right face and not the right mind. ‘Looksism’ was the only inequity that wasmt addressed during the last decade of purging our western world of guilt
End the FED. Signed in at the dead of night Christmas Eve 1913.
The US Federal Reserve isn’t federal and there is no reserve.