Fed Governor Lisa Cook will not step down despite Trump call

Desmond Milligan · August 21

Federal Reserve board of governors member Lisa Cook has said she will not step down despite President Trump calling for her to do so.

Cook said she had “learned from the media that [Federal Housing Finance Agency (FHFA)] Director William Pulte posted on social media that he was making a criminal referral based on a mortgage application from four years ago, before I joined the Federal Reserve,” according to a statement obtained by The Hill’s sister network NewsNation

“I have no intention of being bullied to step down from my position because of some questions raised in a tweet,” she added. “I do intend to take any questions about my financial history seriously as a member of the Federal Reserve and so I am gathering the accurate information to answer any legitimate questions and provide the facts.”

On Wednesday, Trump called for the resignation of Cook in the wake of allegations by FHFA’s chief that she committed mortgage fraud.

FHFA Director William Pulte said early Wednesday on the social platform X that Cook had designated two of her houses as her primary residence.

“Lisa D. Cook, committed mortgage fraud by designating her out-of-state condo as her primary residence, just two weeks after taking a loan on her Michigan home where she also declared it as her primary residence,” he said.

Trump pushed for Cook to step down shortly after Pulte’s post.

“Cook must resign, now!!!” the president said on his own Truth Social platform.

Pulte also said his agency made a criminal referral to the Justice Department on the allegations against Cook.

In recent months, Trump has also directed his ire toward Fed Chair Jerome Powell and pushed for his exit as well.

The Hill has reached out to the White House and FHFA for comment.

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