Trump Drops Bombshell: Fed Governor Out
President Donald Trump has announced the removal of Federal Reserve Governor Lisa Cook, citing serious allegations tied to mortgage fraud.
Allegations of False Statements
According to Trump, there is compelling evidence that Cook made “false statements” on one or more mortgage agreements — a charge that strikes at the heart of financial integrity.
Rare Use of “For Cause” Removal
By law, presidents can only dismiss Fed officials “for cause,” a threshold traditionally reserved for misconduct or gross negligence. Trump is framing these allegations as just that — misconduct serious enough to justify her removal.
Powell in the Crosshairs
This move comes against the backdrop of Trump’s escalating feud with Fed Chairman Jerome Powell, who has resisted Trump’s push to aggressively cut interest rates. Cook’s ouster signals Trump is no longer content with criticism — he’s taking direct action.
A Showdown Over the Fed’s Future
With Cook’s dismissal, Trump has fired a warning shot at the Federal Reserve’s independence, raising the stakes in an already volatile struggle over the direction of U.S. monetary policy.
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