#FOMCMinutes PRESIDENT TRUMP SAYS HE WILL FIRE FED GOVERNOR LISA COOK IF SHE DOES NOT RESIGN VOLUNTARILY.
🔹This pressure comes after Bill Pulte, Director of the Federal Housing Finance Agency, accused Governor Cook of mortgage fraud by declaring two houses as primary residences to obtain lower interest rates. The Department of Justice has opened an investigation into this matter.
🔹If Governor Cook is fired "for cause," President Trump will have the opportunity to appoint a replacement, thereby reshaping the powerful leadership of the Fed.
🔹Currently, of the seven governors of the Fed, two (Christopher Waller and Michelle Bowman) were appointed by President Trump, and another seat has been vacant since Adriana Kugler resigned earlier this summer.
🔹Filling these positions could help President Trump gain a majority influence in the Fed Board of Governors, allowing him to steer U.S. monetary policy for years to come. Fed governors serve terms of up to 14 years, so these appointments are particularly significant. Source Thuan