President Donald Trump said on Friday that he was released the Federal Reserve Governor Lisa Cook if she was not returning from her position.
“What she did was bad,” the president told reporters who asked about Cook, a representative of former President Joe Biden, who was shot about the Trump government for allegations of her mortgages.
“So I will fire her if she doesn't resign,” he said during a surprise visit to the people's house, a museum of the White House.
If Trump looks successful, “he would get the chance to redesign the central bank's government board for the coming years.
US President Donald Trump visits the people's house: an Experience Museum of the White House in Washington DC, USA, August 22, 2025.
Jonathan Ernst | Reuters
Two of the seven current governors, Christopher Waller and Michelle Bowman, are Trump representative. Both were of the most recent decision by the Fed to keep interest rates stable.
Another seat was opened in the early summer when Adriana Kugler announced that she would resign.
If Trump is able to remove Cook, he would appoint her successor and possibly make sure that a large part of the board of directors shares his view of monetary policy. Board members have an term of 14 years.
Bill Pult, director of the Federal Housing Finance Agency, accused Cook Cook of mortgage fraud in connection with claims that she had also taken two different properties as the main residence.
He sent a criminal transfer to the Ministry of Justice, which announced on Thursday that it would be investigating Cook.
Pult, a vocal critic of the FED chairman Jerome Powell, who aggressively supported Trump's demands for central bank to reduce interest rates, has continuously attacked Cook on social media since unveiling his allegations.
Trump previously demanded that Cook resign immediately in view of the allegations. Ed Martin, a lawyer of the Ministry of Justice, who is generally regarded as a loyalist for the President, asked Powell immediately to remove Cook – although the central bank boss cannot do so in accordance with the law.
Senator Elizabeth Warren, the best democrat of the Senate banking committee, wrote in an X -Post Friday that Trump aims at Cook because he “tries to find a scapegoat because he does not lower the costs for Americans”.
Cook consistently chose Powell in accordance with Powell. She set up with the majority to keep the interest rates unchanged after the last meeting of the Federal Open Market Committee last month.
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Cook said on Wednesday that “she has no intention to be bullied, due to some questions that were raised in a tweet, to withdraw from my position.”
“I learned from the media that the FHFA director William Pulte was released on social media that he made a criminal transfer based on a mortgage application from four years ago before I came to the Federal Reserve,” said Cook in a explanation.
“I intend to take questions about my financial history as a member of the Federal Reserve seriously, so I collect the exact information to answer legitimate questions and ask the facts,” she said.
Trump's comments on Friday morning came when Powell signaled that the economic conditions can “justify interest rate cuts”.
While the economy and the labor market remain resistant, the downward risk and growth drops – and Trump's tariffs are once again making the inflation concerns, Powell said at the Fed's annual conference in Jackson Hole, Wyoming.
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