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Trump Threatens to Fire Fed Governor Cook Amid Fraud Allegations
Trump Threatens to Fire Fed Governor Cook Amid Fraud Allegations
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BTCCSquare news:
US President Donald TRUMP has reignited his feud with the Federal Reserve, targeting Governor Lisa Cook with threats of dismissal over alleged mortgage fraud. The controversy stems from claims that Cook misrepresented her primary residence while serving at the Fed, listing an Atlanta property as her home while simultaneously renting it out.
The Federal Housing Finance Agency has referred the matter to the Department of Justice for criminal investigation. Under Section 10 of the Federal Reserve Act, Trump could remove Cook if evidence supports the allegations. This political turmoil unfolds as Fed Chair Jerome Powell adopts a dovish monetary stance, adding uncertainty to markets already grappling with shifting rate expectations.
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