US EditionTrump Calls for Fed Governor Lisa Cook to Resign After Accusation of Mortgage Fraud
Federal Housing Finance Agency Director Bill Pulte referred Lisa Cook to the Justice Department over alleged mortgage fraud involving two homes, amid political pressure for Federal Reserve rate cuts.
- On Wednesday, President Donald Trump demanded that Lisa Cook, a Federal Reserve governor, step down amid accusations of mortgage fraud.
- The allegations surfaced after Bill Pulte, head of the Federal Housing Finance Agency and a strong supporter of Trump, requested that Attorney General Pam Bondi look into Cook's activities on August 15.
- Pulte alleged Cook obtained two mortgages—$203,000 on a Michigan home and $540,000 on a Georgia property—while claiming both as primary residences though the Georgia home was reportedly listed for rent.
- For months, Trump has insisted that the Federal Reserve lower its key short-term interest rate, currently near 4.3%, arguing that this would decrease the government's $37 trillion borrowing expenses and stimulate the housing sector through lower mortgage rates.
- The Federal Reserve has not provided any remarks on the matter, no formal charges have been initiated, and it is still uncertain if Bondi will pursue an investigation, underscoring the ongoing legal ambiguity amid political scrutiny.
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The U.S. president continues his effort to destabilize the central bank, which does not lower rates quickly enough to his liking. On 20 August, he demanded the departure of one of his leaders on his Truth Social network.
·Paris, France
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Coverage Details
Total News Sources188
Leaning Left26Leaning Right32Center65Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 21%
C 53%
R 26%
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