‘Sufficient Cause To Remove You’: Trump Fires Federal Reserve Governor

President Donald Trump removed Federal Reserve Governor Lisa Cook from her position on Monday, effective immediately.

On Truth Social Wednesday, Trump called for Cook’s resignation after Federal Housing Finance Agency Director Bill Pulte said he would refer her to the Department of Justice (DOJ) over allegations of mortgage fraud. In a letter posted to X, Trump said he was exercising his authority under the Federal Reserve Act, alleging Cook signed documents claiming residency in two different states.

“For example, as detailed in the Criminal Referral, you signed one document attesting that a property in Michigan would be your primary residence for the next year. Two weeks later, you signed another document for a property in Georgia stating that it would be your primary residence for the next year. It is inconceivable that you were not aware of your first commitment when making the second. It is impossible that you intended to honor both,” Trump wrote.

“The Federal Reserve has tremendous responsibility for setting interest rates and regulating reserve and member banks. 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,” Trump added. “In light of your deceitful and potentially criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity. At a minimum, the conduct at issue exhibits the sort of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator.”

Cook was nominated