U.S. President Donald Trump said senior Fed officials “must resign, now!!!” He continued to seek greater influence on the U.S. central bank due to unconfirmed mortgage fraud charges.
Bill Pulte, a housing finance regulator, also an ally of Trump, accused Fed Gov. Lisa Cook of forging documents and property records to obtain more favorable loan terms.
Trump expressed anger at the Fed and publicly considered Chairman Jerome Powell while pushing it to lower interest rates.
He also accused other officials of mortgage fraud, including New York Attorney General Letitia James, who won a civil fraud case against him last year.
In a letter to Attorney General Pam Bondi, and published a pulte on X, claiming that Cook falsied documents on Michigan and Georgia properties, saying they were her primary residence and could constitute criminal mortgage fraud.
His posts include what appears to be Cook’s signature, but provide no evidence to support his claim.
Poulte called the letter a “criminal referral” and urged the Justice Department to investigate.
While an investigation has not been announced, Trump quickly urged his truth to social media platforms to urge Cook to resign.
Cook was appointed by former Trump Democrat Joe Biden, who has not publicly settled the allegations in 2022. Seven Fed governors have decided on the bank’s monetary policy, lowered and raised benchmark interest rates, and taken other measures to address inflation and unemployment.
Both the Justice Department and the Fed declined to comment on the allegations or Trump’s comments.
The BBC also extended the White House.
Pulte, who was appointed by Trump in March, has been a voice critic of Powell and has repeatedly responded to Trump’s call for the Fed to lower interest rates.
Trump often calls Powell “too late” and says interest rates should have been lowered this year.
In addition to calling for Cook to resign, Trump has also tried to influence the Fed through other ways, including often discussing the chairman’s nominee once Powell’s term ends next year.
Earlier this month, another Fed governor, Adriana Kugler, resigned, paving the way for Trump’s nomination of economic adviser Stephen Miran. The Senate still has to confirm Milan. If Cook resigns, Trump will have another opening ceremony to fill it.
He also attacked the cost of Powell’s construction of renovation costs at the Federal Reserve headquarters in Washington, D.C., which sometimes shows that cost overruns and potential mismanagement of the project are “slightly” criminal crimes.
Powell is expected to be at an economics summit in Jackson Hole, Wyoming on Friday, where he can provide clues about the Fed’s near-unthinkable interest rate plan. He said earlier this year that the central bank decided not to cut them to see how the new taxes affect businesses and consumers after Trump announced its ambitious tariff plans.
The next Fed meeting will be held in mid-September, when many economists expect to lower interest rates.
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A wellness enthusiast and certified nutrition advisor, Meera covers everything from healthy living tips to medical breakthroughs. Her articles aim to inform and inspire readers to live better every day.
