Thu, 21 Aug 2025

Thu, 21 Aug 2025 Fed governor says she won't be 'bullied' as Trump demands she quit over mortgage claim

Lisa Cook says she plans to take questions about her financial history seriously.

* US Federal Reserve Governor Lisa Cook denies allegations of mortgage fraud after President Trump called for her resignation.
* Cook says she will not be "bullied" into resigning and intends to gather accurate information to answer any legitimate questions about her financial history.
* The claims against Cook stem from a mortgage loan application made four years ago, before she joined the central bank.
* Trump administration is also pursuing investigations into mortgage fraud involving Senator Adam Schiff and New York Attorney General Letitia James, both political opponents of Trump.
* Housing finance regulator Bill Pulte, a Trump ally, has alleged that Cook falsified documents for properties in Michigan and Georgia, potentially amounting to criminal mortgage fraud.
* The Federal Reserve's seven governors decide the bank's monetary policy, including setting interest rates and addressing inflation and unemployment.
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