Trump Dismisses Fed Governor Lisa Cook Over Mortgage Fraud Allegations

President Donald Trump on Monday removed Federal Reserve Governor Lisa Cook from her position, citing “sufficient cause” following allegations of mortgage fraud.

In a letter posted to Truth Social, the platform he owns, Trump stated that Cook was dismissed from the Fed’s Board of Governors effective immediately. The decision comes amid claims that Cook signed conflicting mortgage documents for properties in Michigan and Georgia.

“It is inconceivable that you were not aware of your first commitment when making the second,” Trump wrote in the letter, adding that her conduct was “deceitful and potentially criminal.”

Trump argued that Cook’s continued presence on the Fed board would undermine public trust in the institution. “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,” he said.

The removal follows a public warning last week, when Trump told Cook to resign or face dismissal. Cook, nominated by former President Joe Biden in 2022, had previously rejected the allegations and said she would not be “bullied” into stepping down.

The accusations stem from a criminal referral by Federal Housing Finance Agency Director Bill Pulte, a frequent critic of Fed Chair Jerome Powell. The matter has reportedly been referred to the Department of Justice.

As of Tuesday morning, neither the Fed nor Cook had issued a formal response to her dismissal.