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President Trump says he will move to fire a Federal Reserve governor, Lisa Cook, if she doesn’t resign over allegations she committed mortgage fraud.
Mr. Trump made the threat after one of his housing regulators raised questions about 2021 documents in which Ms. Cook appeared to list two properties as her primary residence.
“What she did was bad, so I’ll fire her if she doesn’t resign,” Mr. Trump told reporters on Friday.
Ms. Cook said she won’t be “bullied” out of her position and planned to push back on the allegations.
Bill Pulte, the director of the Federal Housing Finance Agency, says he found clear evidence of wrongdoing in the documents. Dwellings in Michigan and Georgia were listed as primary residences, and the Georgia one was listed for rent, according to Mr. Pulte.
Mr. Trump is calling on Ms. Cook to step down as he tries to reshape the central bank.
SEE ALSO: Trump’s enforcer Pulte works to reshape the Fed and investigate Democrats over mortgages
The president is furious at the Fed and its chairman, Jerome Powell, for refusing to decrease interest rates so borrowers have better terms.
Mr. Powell on Friday signaled a rate cut may be on its way in September, given a slowdown in hiring. He said tariffs appear to be boosting prices for some goods, but levies might cause a “one-time” increase.
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