Trump Fires Fed Governor Cook Over Mortgage Fraud Allegations

President TRUMP has dismissed Federal Reserve Governor Lisa Cook following allegations of mortgage fraud, though no formal charges have been filed. The move, unprecedented in modern Fed history, has sparked concerns over central bank independence and triggered immediate market reactions.

The dollar index fell 0.3% on the news, with Treasury yields and S&P 500 futures also declining. Federal Housing Finance Agency Director Bill Pulte's accusations of document falsification FORM the basis for the dismissal, now under Justice Department review.

Cook's removal grants Trump an opportunity to reshape the Fed's leadership, particularly consequential as the central bank prepares for its September policy meeting. Another Biden appointee's planned early departure could hand the administration a four-person majority on the seven-member board.