US EditionTrump says he is removing Fed Governor Cook
- On Monday, President Donald Trump removed Federal Reserve Governor Lisa Cook from her position, citing allegations of mortgage fraud amid ongoing attempts to influence the Fed's autonomous policymaking.
- The firing follows accusations by Bill Pulte, a Trump appointee, who alleged Cook claimed two properties as primary residences to secure favorable mortgage terms in 2021.
- Cook, appointed by President Biden in 2022, denied wrongdoing and stated she will not resign despite the political and legal pressures mounting against her.
- Markets reacted with a softer U.S. dollar and lower short-term Treasury yields as analysts warned the firing threatens the Fed's independence and may increase chances of rate cuts.
- This dismissal escalates Trump's campaign to control the Federal Reserve and could lead to legal battles while enabling him to appoint officials favoring lower interest rates.
136 Articles
136 Articles
Good Luck With That: Fed Governor Lisa Cook Says President Trump Can’t Fire Her
Update (2330ET): Former Fed governor Lisa Cook says she will not resign, the Washington Post reports, citing a statement from Cook. “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook said through a spokeswoman: WaPo “I will continue to carry out my duties to help the American economy as I have been doing since 2022,” Cook said Good luck with that plan when the FBI turns u…
President Donald Trump wants to remove Lisa Cook from the Federal Reserve Board of Governors "effective immediately," he wrote in a letter posted on Truth Social. He had previously accused her of mortgage fraud and pressured her to resign.
Trump fires Fed-Governeur Cook over mortgage fraud charges. Cook defends himself and wants to remain in office. Markets are nervous about the escalation.
Following US President Donald Trump's surprising release announcement of Fed Governor Lisa Cook, the uncertainty on the markets is increasing. Gold prices are rising to over $3,380 per fine ounce. Analysts see potential for a sustained rally in the political escalation and potential interest rate cuts.
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