From Mother Jones · Hannah Levintova · · 1m
Trump Attempts to Fire Fed Governor Lisa Cook
Trump creates committee to investigate Fed Governor Lisa Cook over mortgage fraud claims.
In brief
Trump creates committee to investigate Fed Governor Lisa Cook over mortgage fraud claims. Trump announced a committee to investigate Fed Governor Lisa Cook after Supreme Court rejected his previous attempts to fire her. Originally reported by Mother Jones.
Trump Announces Committee
President Trump created a committee to investigate Fed Governor Lisa Cook over mortgage fraud allegations.
“To assist me in carrying out that responsibility, the Committee shall investigate the allegations against Governor Cook and report to me whether there is 'cause' for Governor Cook’s removal”
Cook’s Previous Firing Attempts
Trump’s effort to fire Cook is the first time the president has tried to remove a Fed board member in over a century.
“Since the central bank was established as an independent entity that sets monetary policy free of political influence”
Bill Pulte’s Allegations
Bill Pulte, head of the Federal Housing Finance Agency, accused Cook of mortgage fraud to target Democrats.
“Pulte, a vigorous defender of the president that some have called a 'mini-Trump'”
Clerical Error Findings
Additional loan documents showed the alleged mortgage fraud was likely a clerical error, not fraud.
“What’s more, Pulte’s efforts to weaponize mortgage information against Trump’s political foes led to formal scrutiny”
Legal Challenges
Two courts blocked Trump’s attempt to fire Cook after he appealed to the Supreme Court.
“the Supreme Court said the way he’d tried to fire her was not allowed”
Trump’s Next Move
Trump aims to replace Cook with a loyalist to control the Fed ahead of November elections.
“Trump’s announcement on Friday appears to be his latest effort to exert some control over the central bank by ousting Cook”
The essence
Trump announced a committee to investigate Fed Governor Lisa Cook after Supreme Court rejected his previous attempts to fire her.
