According to the Associated Press, on the evening of the 20th, Lisa Cook, a member of the U.S. Federal Reserve Board, stated that she would not resign due to Trump's remarks. Earlier, the director of the Federal Housing Finance Agency (FHFA) called for U.S. Attorney General Pam Bondi to investigate Cook for alleged fraud in two mortgage loans, after which President Trump called on social media for Cook to resign immediately.
Screenshot of the Associated Press report
Cook stated in a statement: 'I have no intention of being coerced into resigning because of some questions raised in a tweet.'
Earlier that day, Bill Pulte, the FHFA director appointed by Trump, claimed on social media platform X that Cook had declared her two residences in Ann Arbor, Michigan, and Atlanta as her primary residence in 2021 to obtain more favorable mortgage terms. Typically, the loan rates for a second home or rental property would be higher.
Trump subsequently called for Cook to resign on social media. The Associated Press reported that Trump has repeatedly criticized Federal Reserve Chairman Jerome Powell for not lowering short-term interest rates and even threatened to fire Powell.
U.S. media reported that if Cook were forced to leave the Federal Reserve Board, it would give Trump the opportunity to appoint a new member. Trump has stated that he would only appoint officials who support interest rate cuts.
Cook stated: 'As a member of the Federal Reserve, I do take seriously any questions regarding my financial history, so I am gathering accurate information to respond to any reasonable inquiries and provide facts.'
