Fed Governor Lisa Cook won't bow to Trump's pressure, clings to her post

Federal Reserve Governor Lisa Cook announced she will not resign despite pressure led by President Donald Trump, who called for her immediate resignation following revelations of mortgage fraud allegations now under federal review. 

Cook stated that he will not leave the Board of Governors, insisting that he will answer questions about his financial history. "I have no intention of being bullied to step down from my position because of some questions raised in a tweet," he said in a statement shared by The Hill.

Allegations under investigation.

The director of the Federal Housing Finance Agency (FHFA), William Pulte, charged that Cook had reportedly declared as his "primary residence" two separate properties: an out-of-state condominium and his Michigan home, just weeks apart. According to Pulte, this maneuver constitutes mortgage fraud, which is why his agency has already referred a criminal referral to the Department of Justice.

Trump demands accountability

Following Pulte's publication, Trump reacted immediately on his Truth Social platform with a blunt message, "Cook must resign, now!!!" In doing so, he turned the spotlight back not only on Cook but also on the Federal Reserve itself, against whose leadership he has intensified his criticism in recent months, especially towards its chairman Jerome Powell, whom he has also demanded to step down.

Next steps

For now, the investigation remains in the hands of the Department of Justice, while Cook insists on keeping his post at the Fed and preparing his defense. The dispute adds tension to the already contentious relationship between Trump and the Federal Reserve, which is under increasing political scrutiny.