Trump's Latest Move: Pressures Key Federal Reserve Official to Step Down

President Donald Trump called for the resignation of Federal Reserve official Lisa Cook on Wednesday, following allegations of mortgage fraud made by a close associate. Bill Pulte, director of the Federal Housing Finance Agency, urged the Justice Department to investigate Cook's handling of two mortgages acquired in recent years. Trump amplified these claims on his social media, insisting that "Cook must resign, now!!!" Pulte, a prominent Trump supporter, has been critical of the Federal Reserve and Chair Jerome Powell's decisions regarding interest rates, along with the central bank’s expensive renovations in Washington, D.C. As pressure mounts on Cook, Senate discussions will soon address Trump's nomination of Stephen Miran to fill the vacancy left by Adriana Kugler. Analysts, including Jaret Seiberg from TD Cowen Washington Research Group, believe Cook is unlikely to resign, suggesting that her departure would not curb the ongoing legal investigation into her actions. This situation highlights the continuing tensions between the Trump administration and the Fed.