Trump removes Fed Governor Lisa Cook amid mortgage fraud allegations | World News

US President Donald Trump has announced the removal of Federal Reserve Governor Lisa Cook from her position on the Fed’s board of directors on Monday, amid the allegations that she falsified documents on mortgage applications.
President Trump posted the order on his social media platform Truth Social and removed Governor Cook from her position with immediate effect. The president had called Cook to resign on August 20 after US Federal Housing Finance Agency Director William Pulte, who was appointed Trump, accused the Fed governor of claiming two of her mortgages as primary residences. The US Justice Department has said that it is also looking into the matter.

🚨 President Donald J. Trump relieves Federal Reserve Governor Lisa Cook of her position pic.twitter.com/tJV8m4mlHW
— Rapid Response 47 (@RapidResponse47) August 26, 2025
In the letter, Trump said “The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve.” The president added, “In light of your deceitful and possibly criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity.”
Trump said that there were sufficient evidence that Cook made false statements on mortgage applications. However, Cook had been adamant about continuing at the Federal Reserve and had said on August 20 that she won’t step down from her position “because of some questions raised in a tweet”.
Cook had said, “I do intend to take any questions about my financial hory 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,” Reuters reported.