President Donald Trump is escalating his crusade against the Federal Reserve’s independence by demanding the resignation of Lisa Cook, the first Black woman to serve on the central bank’s board of governors, citing unsubstantiated allegations of mortgage fraud.
Writing on Truth Social, Trump said Cook, a former Michigan State University professor who has served on the board since 2022, “must resign, now!!!” and shared a Bloomberg News article about calls for the Department of Justice to investigate Cook’s mortgage application history by Bill Pulte, the head of the Federal Housing Finance Administration and of Fannie Mae and Freddie Mac.
