Trump (R) moved to Fire Federal Reserve Board Member Lisa Cook over Aallegations She committed Mortgage Fraud. “I have determined that there is sufficient cause to remove you from your position,” Trump wrote in a Letter to Cook, which was Posted on Truth Social.
Trump last week called for Cook, who was Appointed by former President Biden (D) in 2022, to Resign following Allegations by Bill Pulte (R), a Trump Ally and the Head of the Federal Housing Finance Agency, that She Committed Mortgage Fraud by Listing Two Primary Residences. Trump said He would try to Fire Cook, if She did Not Resign.
In His Initial Allegations, Pulte included Photographs of Document Signatures apparently belonging to Cook, that Allegedly Applied to Two Different Primary Residences, One in Michigan and another, described as Atlanta Condo.
Trump can Fire Members of the Federal Reserve Board for Cause, but it’s Unclear if the Allegations against Cook would reach that Standard.
“The Federal Reserve has tremendous responsibility for setting interest rates and regulating reserve and member banks,” Trump wrote in His Letter to Cook. “The American people must be able to have full confidence in the honestly of the members entrusted with setting policy and overseeing the Federal Reserve. In light of your deceitful and potentially criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity.”
Then Trump took the Extraordinary Step of Removing Lisa Cook from the Board-of-Governors of the Federal Reserve, in a Legally dubious Maneuver that could undermine the Independence of the Nation’s Central Bank.
NYC Wins When Everyone Can Vote! Michael H. Drucker
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