Trump calls for the resignation of Federal Reserve Governor Cook over his active use of social media platforms

In a recent development, the head of the US mortgage market oversight agency, Bill Pulte, has made allegations of suspected mortgage fraud against Federal Reserve Governor Lisa Cook.

Pulte, who made these claims on the X platform, referred to two loans from June and July 2021 in his allegations. He stated that Cook, if the allegations are proven true, owns an apartment in Atlanta as her primary residence after taking out a loan for her house in Michigan and declaring it as her primary residence.

However, it is important to note that these allegations do not involve Cook's current position as Fed Governor.

The call for Cook's resignation was made on social media, but President Donald Trump has not yet publicly called for her resignation. In contrast, Trump has criticised Fed Chairman Jerome Powell over interest rates and suggested his dismissal at times.

Meanwhile, Pulte has recommended an investigation by the Justice Department into the suspected mortgage fraud. It is worth noting that Stephen Miran, the economic advisor to Donald Trump, has been appointed as the new Fed Governor to fill the vacancy left by Adriana Kugler's unexpected resignation.

Stephen Miran's appointment does not involve any allegations of mortgage fraud, and it is also not a result of any investigation by the Justice Department.

Interestingly, the search results do not provide information about Cook's primary residence when she issued the mortgages for her house in Michigan in 2021.

Pulte also mentioned in his letter to US Attorney General Pam Bondi that the FHFA has received Cook's mortgage documents.

It is essential to await the outcome of any investigation into these allegations to determine their validity. This news is still developing, and further updates will be provided as more information becomes available.