By Black Star News
Photos: Wikimedia Commons
Donald Trump is attacking Black Federal Reserve Governor Lisa Cook, saying she “must resign, now!!!” amid unproven allegations that she engaged in mortgage fraud—an unfounded allegation that he has also levied against New York Attorney General Letitia James and California Senator Adam Schiff.
Trump’s attack on Cook came after William Pulte, the director of the U.S. Federal Housing Finance Agency, claimed in a letter, to U.S. Attorney General Pam Bondi, that Cook had “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.”
In a CNBC interview, Pulte said,“She needs to explain herself, but it’s all there in black and white. I think she needs to resign quickly.”
At issue, are homes Cook bought in both Michigan and Georgia. Allegedly, when Cook bought the Michigan home, in June 2021, she stated it would be her primary residence for a period of one year. However, Pulte claims that Cook, two weeks later, allegedly, bought the second home, in Georgia, and listed it as her primary residence, before purportedly changing it to a rental.
Pulte is known to be a partisan attack dog for Trump. In fact, Pulte has called numerous times for Federal Reserve Chair Jerome Powell to lower interest rates—or resign.
The accusations against Cook, the first Black woman to serve as a Fed governor, come as Trump is pressuring the Federal Reserve to lower interest rates. Cook was appointed by President Joe Biden, in 2022, and has a permanent vote on the rate-setting committee of the Federal Reserve. Her current term officially ends in 2038.
Cook, a Spelman College, and Oxford University graduate, is a former professor of economics who taught at Michigan State College. Cook is the first Black woman to serve in the 100-year history of the Federal Reserve.
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