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Trump says he is removing Fed Governor Cook
Trump's removal of Fed Governor Lisa Cook marks an unprecedented challenge to Federal Reserve independence amid unproven mortgage fraud allegations and ongoing calls to lower interest rates.
- On Monday, President Donald Trump dismissed Federal Reserve Governor Lisa Cook amid accusations of mortgage fraud related to property claims.
- The firing followed accusations from Bill Pulte, Trump’s Federal Housing Finance Agency Director, who alleged Cook claimed two properties as primary homes in 2021 to secure better mortgage terms.
- Cook denied wrongdoing, stating she will not be bullied to resign and intends to respond seriously to questions about her financial history amid an ongoing Justice Department investigation.
- Markets reacted mildly as investors anticipate earlier and possibly further interest rate cuts, while strategists warn the firing raises concerns about the Fed's independence and political influence.
- The dismissal signals intensified political efforts by Trump to control the Fed’s policymaking, potentially leading to legal battles and broader impacts on the agency’s autonomy and financial markets.
233 Articles
233 Articles
Trump orders dismissal of Fed Governor Cook, leading to a slip in stocks
U.S. President Donald Trump on Monday said he was firing Federal Reserve Governor Lisa Cook over alleged improprieties in obtaining mortgage loans. Cook responded saying that Trump "has no authority" to remove her. The Wall Street Journal and AFP reported that Dow Futures as well as Asian stocks slipped on Tuesday, following Trump's order to oust Lisa Cook.
Trump to Hold Cabinet Meeting Tuesday; Trump Fires Federal Reserve Governor Lisa Cook
President Donald Trump is scheduled to meet with his Cabinet at 11 a.m. ET. NTD will have live coverage of the meeting. Trump announced in a letter posted to social media that he has fired Federal Reserve Governor Lisa Cook over alleged improprieties in her mortgage loans. Trump accused Cook of deceitful and potentially criminal conduct related to her mortgage applications. In an emailed statement to The Associated Press, Cook said she would not…
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