Trump calls on Fed governor Lisa Cook to resign
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"No American thinks it is appropriate that she serve during this time with a cloud hanging over her,” Ed Martin wrote in a letter to the Fed chair.
The U.S. Justice Department plans to investigate Federal Reserve Governor Lisa Cook, with a top official informing Federal Reserve Chair Jerome Powell of the probe and encouraging him to remove her, Bloomberg News reported on Thursday.
In the coming months, Trump is set to nominate a new Fed chair and another governor, both with permanent votes on the 12-member rate-setting committee.
Cook, the first Black woman to serve on the Fed board, said she had "no intention of being bullied to step down" after Trump called for her resignation.
Trump demands the resignation of Federal Reserve Governor Lisa Cook following accusations of mortgage fraud. The FHFA has requested the DOJ to investigate Cook's alleged misrepresentation of mortgage terms.