The announcement marked the latest in a series of moves by the Trump administration to expand pressure on the central bank
President Donald Trump moved to remove Federal Reserve Governor Lisa Cook from her post at the US central bank in the wake of allegations that she falsified documents on mortgage applications.
“The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve,” Trump said in a letter he posted to Truth Social.
“In light of your deceitful and possibly criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity.”
The announcement comes after the US Department of Justice indicated it planned to investigate Cook, following a criminal referral from Federal Housing Finance Agency Director Bill Pulte alleging that she may have committed mortgage fraud. That investigation marked the latest in a series of moves by the Trump administration both to increase legal scrutiny of Democratic figures and put pressure on the central bank.
