{"id":11089,"date":"2025-08-26T13:24:13","date_gmt":"2025-08-26T10:24:13","guid":{"rendered":""},"modified":"2025-08-26T13:24:13","modified_gmt":"2025-08-26T10:24:13","slug":"trump-fires-fed-governor-lisa-cook-amid-mortgage-fraud-probe","status":"publish","type":"post","link":"https:\/\/harici.com.tr\/en\/trump-fires-fed-governor-lisa-cook-amid-mortgage-fraud-probe\/","title":{"rendered":"Trump fires Fed Governor Lisa Cook amid mortgage fraud probe"},"content":{"rendered":"

US President Donald Trump announced<\/a><\/span> that he has dismissed Federal Reserve Board member Lisa Cook, intensifying his pressure on the central bank to lower interest rates.<\/p>\n

In a letter addressed to Cook and shared on social media, Trump cited a Justice Department investigation into whether Cook had made false statements on mortgage applications. He argued that this inquiry provided \u201csufficient cause\u201d to remove her from the Fed board.<\/p>\n

Cook, nominated by President Joe Biden and confirmed by the Senate in 2022, is a former professor of economics and international relations at Michigan State University and a former director at the Chicago Fed.<\/p>\n

Trump wrote, \u201cThe American people must have complete confidence in the integrity of those entrusted with shaping policy and overseeing the Federal Reserve. In light of your deceptive and potentially criminal conduct on a financial matter, neither the public nor I can maintain trust in your integrity.\u201d<\/p>\n

This move follows Trump\u2019s repeated attempts to influence the Fed to cut interest rates. He has previously suggested removing Fed Chair Jerome Powell.<\/p>\n

The allegations stem from a complaint filed with the Justice Department by Federal Housing Finance Agency Director Bill Pulte, who claimed that Cook had listed two homes as her primary residence. Pulte has launched several mortgage fraud investigations targeting political figures, including New York Attorney General Letitia James and California Senator Adam Schiff.<\/p>\n

Pulte praised Trump\u2019s decision on social media, writing, \u201cThank you President Trump for your commitment to stopping mortgage fraud and enforcing the law. If you commit mortgage fraud in America, no matter who you are, we will come after you.\u201d<\/p>\n

Cook rejected Trump\u2019s justification, insisting that he lacked the authority to remove her. \u201cPresident Trump claimed he fired me \u2018for cause\u2019 without any legal basis. I will not resign. I will continue fulfilling my responsibilities to support the American economy as I have since 2022,\u201d she told POLITICO<\/em>.<\/p>\n

Her attorney, Abbe Lowell, denounced Trump\u2019s action as unlawful: \u201cOnce again, President Trump turned to social media to carry out a \u2018tweet firing.\u2019 His demands lack due process, legal authority, or legitimacy. We will take all necessary steps to block this illegal act.\u201d<\/p>\n

The mortgage fraud allegations have not yet led to criminal charges or findings of misconduct.<\/p>\n

In his letter, Trump defended his legal authority: \u201cThe executive power of the United States is vested in me as president. It is my solemn duty to ensure the faithful execution of the laws, and for that reason I have determined that your immediate removal is necessary.\u201d<\/p>\n

Wyoming Senator Cynthia Lummis backed Trump, declaring that his action signaled \u201cthe end of Federal Reserve Board members behaving as if they are above the law.\u201d<\/p>\n

However, the decision drew sharp criticism across party lines. Former Treasury Secretary Larry Summers called it \u201ca troubling politicization of the Federal Reserve,\u201d arguing that Cook was denied an opportunity to defend herself in an independent review and that no convincing evidence was presented to justify her removal.<\/p>\n

Senator Elizabeth Warren, a senior member of the Senate Banking Committee, urged courts to overturn Trump\u2019s move: \u201cThe attempt to oust Lisa Cook is the desperate scapegoating of a president who has failed to lower costs for Americans. It is an authoritarian power grab that blatantly violates the Federal Reserve Act and must be struck down in court.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

US President Donald Trump announced that he has dismissed Federal Reserve Board member Lisa Cook, intensifying his pressure on the central bank to lower interest rates. In a letter addressed to Cook and shared on social media, Trump cited a Justice Department investigation into whether Cook had made false statements on mortgage applications. He argued […]<\/p>\n","protected":false},"author":1,"featured_media":11090,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[176],"tags":[12492,12493,12488,12487,319,5888,189,12486,12489,5856,4338,2811,11526,12491,12485,12490],"class_list":["post-11089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-america","tag-adam-schiff","tag-biden-nominee","tag-bill-pulte","tag-cynthia-lummis","tag-donald-trump","tag-elizabeth-warren","tag-fed","tag-fed-governor","tag-federal-housing-finance-agency","tag-federal-reserve","tag-jerome-powell","tag-justice-department","tag-larry-summers","tag-letitia-james","tag-lisa-cook","tag-mortgage-fraud-investigation"],"yoast_head":"\nTrump fires Fed Governor Lisa Cook amid mortgage fraud probe - Harici<\/title>\n<meta name=\"description\" content=\"Trump dismissed Fed Governor Lisa Cook over mortgage fraud allegations, sparking bipartisan backlash and raising concerns about Fed independence.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/harici.com.tr\/en\/trump-fires-fed-governor-lisa-cook-amid-mortgage-fraud-probe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump fires Fed Governor Lisa Cook amid mortgage fraud probe - 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