President Trump called on Federal Reserve Governor Lisa Cook to resign following allegations from a Trump ally that Cook made false statements on mortgage applications.
The move comes as the president is in the midst of a high-pressure campaign to get the central bank to lower interest rates.
Cook, who was appointed to the Fed board by then-President Joe Biden in 2022, voted with a majority of her colleagues to hold interest rates steady last month.
Last week, Bill Pulte, who oversees mortgage giants Fannie Mae and Freddie Mac, sent a letter to Attorney General Pam Bondi, calling for an investigation of Cook over a pair of mortgage applications she filed in 2021.
The letter, which Pulte posted on social media Wednesday, says Cook sought mortgages on a house in Michigan and a condo in Georgia two weeks apart. The paperwork said each property would be used as Cook's primary residence, though the Georgia condo was listed as a rental two months later. Lenders often give more favorable terms for loans on a borrower's primary home.
"How can this woman be in charge of interest rates if she is allegedly lying to help her own interest rates?" Pulte asked in a social media post.
Cook said she's gathering information so she can provide the facts about her mortgage applications.
"I have no intention of being bullied to step down from my position because of some questions raised in a tweet," Cook said in a statement. "I do intend to take any questions about my financial history...
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