Latest Breaking News

BumRushDaShow

(158,903 posts) Fri Aug 22, 2025, 10:27 AM Friday

Trump says he'll fire Fed Governor Lisa Cook 'if she doesn't resign'

Source: CNBC

Published Fri, Aug 22 2025 10:23 AM EDT Updated 10 Min Ago

President Donald Trump said Friday he will fire Federal Reserve Governor Lisa Cook if she does not resign from her position. “What she did was bad,” the president told reporters who asked about Cook, an appointee of former President Joe Biden who has come under fire from the Trump administration over allegations about her mortgages.

“So I’ll fire her if she doesn’t resign,” he said during a surprise visit to The People’s House, a museum of the White House.

If Trump were to successfully remove Cook “for cause,” he would get the chance to reshape the central bank’s governing board, potentially for years to come. Two of the seven current governors, Christopher Waller and Michelle Bowman, are Trump appointees. Both dissented from the Fed’s most recent decision to hold interest rates steady. And another seat opened up earlier this summer, when Adriana Kugler announced she would step down.

If Trump is able to remove Cook, he would appoint her replacement — effectively ensuring that a majority of the board members shared his view of monetary policy. Board members serve 14-year terms.

Read more: https://www.cnbc.com/2025/08/22/trump-fire-fed-lisa-cook-powell.html

Call 'em out. Racists ethnic cleansing. It's not "economics" or "Price of eggs", "Kitchen table issues", "Working class".

Article updated.

Previous article -

Published Fri, Aug 22 2025 10:23 AM EDT Updated 2 Min Ago

President Donald Trump said Friday he will fire Federal Reserve Governor Lisa Cook if she does not resign from her position. "What she did was bad," the president told reporters who asked about Cook, an appointee of former President Joe Biden who has come under fire from the Trump administration over allegations about her mortgages.

"So I'll fire her if she doesn't resign," he said during an impromptu visit to The People's House, a museum of the White House.

Federal Housing Finance Agency Director Bill Pulte this week publicly accused Cook of mortgage fraud related to claims that she took two different properties as her primary residence at the same time. He sent a criminal referral to the Department of Justice, which revealed Thursday that it will investigate Cook.

Pulte, a vocal critic of Fed Chairman Jerome Powell who has aggressively backed Trump's calls for the central bank to lower interest rates, has continuously attacked Cook on social media since revealing his allegations.

Original article -

Published Fri, Aug 22 2025 10:23 AM EDT Updated Moments Ago

President Donald Trump said Friday he will fire Federal Reserve Governor Lisa Cook if she does not resign from her position.

This is breaking news. Please refresh for updates.

12 replies

= new reply since forum marked as read

Highlight:

Trump says he'll fire Fed Governor Lisa Cook 'if she doesn't resign' (Original Post) BumRushDaShow Friday OP

He wants to pack the Fed with fluffers gab13by13 Friday #1

So will Trump Resign since he has been found in court to have committed Loan Fraud? mackdaddy Friday #2

Powell will probably cut rates because we are sliding into recession Prairie Gates Friday #3

That would be a horrible idea angrychair Friday #6

All lowering interest rates would accomplish would be to help real estate investors to move their property for more mone mdbl Friday #9

Will TX Attorney General resign for claiming three houses as his personal residences on different mortgages? surfered Friday #4

No. He's a white man so he did nothing wrong. Ray Bruns Friday #5

Bingo! surfered Friday #7

Team Trump finds something new to weaponize: mortgage fraud allegations LetMyPeopleVote Friday #8

Trump is the foremost leading expert on mortgage fraud mdbl Friday #10

He's bought $140 million in bonds. If interest rates drop, he profits Maeve Friday #11

Face it oberle Friday #12

gab13by13

(29,522 posts)

1. He wants to pack the Fed with fluffers

Reply to BumRushDaShow (Original post)

Fri Aug 22, 2025, 10:42 AM

Friday

He desperately wants interest rates cut clear to 1%.

He wants to crash the dollar and strengthen Crypto. His Crypto coin has tanked in value.

mackdaddy

(1,841 posts)

2. So will Trump Resign since he has been found in court to have committed Loan Fraud?

Reply to BumRushDaShow (Original post)

Fri Aug 22, 2025, 10:47 AM

Friday

Seems fair to me.

One thing on the 'Primary Residence' statements. If you live in the residence for some time like a few years, you can then buy a new house to live in and claim that is your new primary residence. You do not have to refinance the previous home as I under stand it.

I know of a few people who built up a rental home investment this way over the years.

Prairie Gates

(6,016 posts)

3. Powell will probably cut rates because we are sliding into recession

Reply to BumRushDaShow (Original post)

Fri Aug 22, 2025, 10:52 AM

Friday

angrychair

(11,041 posts)

6. That would be a horrible idea

Reply to Prairie Gates (Reply #3)

Fri Aug 22, 2025, 11:57 AM

Friday

The core cpi is rising and tariffs are only going to make that worse. Inflation is therefore rising, if only for now, it's slight but likely to jump as we start to feel the impacts of the new immigration crackdown.
Lowering the interest rate would make borrowing cheaper but would water down the value of the dollar and make things more expensive and thereby making things cost more and making inflation worse.
Powell may be forced to do it as Mango Mussolini is going after Fed Board members and looking to replace another member of the board due to bs accusations of mortgage fraud by one of its members that allied with Powell. If he can replace her there will be three Mango Mussolini allied board members that will lean things in his favor.

mdbl

(7,226 posts)

9. All lowering interest rates would accomplish would be to help real estate investors to move their property for more mone

Reply to angrychair (Reply #6)

Fri Aug 22, 2025, 04:17 PM

Friday

Right now they are kind of under water - if interest rates are lowered the housing affordability will get even worse.

surfered

(8,779 posts)

4. Will TX Attorney General resign for claiming three houses as his personal residences on different mortgages?

Reply to BumRushDaShow (Original post)

Fri Aug 22, 2025, 11:10 AM

Friday

Ray Bruns

(5,530 posts)

5. No. He's a white man so he did nothing wrong.

Reply to surfered (Reply #4)

Fri Aug 22, 2025, 11:20 AM

Friday

surfered

(8,779 posts)

7. Bingo!

Reply to BumRushDaShow (Original post)

Fri Aug 22, 2025, 12:01 PM

Friday

LetMyPeopleVote

(168,760 posts)

8. Team Trump finds something new to weaponize: mortgage fraud allegations

Reply to BumRushDaShow (Original post)

Fri Aug 22, 2025, 12:18 PM

Friday

The Trump administration accused one of the president’s political targets of mortgage fraud. Then it happened again. And then it happened again.

Team Trump finds something new to weaponize: mortgage fraud allegations www.msnbc.com/rachel-maddo... BEWARE OF ALLEGATIONS of MORTAGE FRAUD!!!
— Liberty & Justice (@stand4truth.bsky.social) 2025-08-21T18:54:59.094Z

https://www.msnbc.com/rachel-maddow-show/maddowblog/team-trump-finds-something-new-weaponize-mortgage-fraud-allegations-rcna226381

Sometimes, there’s political news that’s notable at face value, but just below the surface there’s an even more important story happening. Take this NBC News report, for example:

The director of the U.S. Federal Housing Finance Agency, William Pulte, a sharp critic of the Fed, alleged in a letter to Attorney General Pam Bondi that [Federal Reserve Governor Lisa Cook] ‘falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud.’ In the letter that Pulte called a ‘criminal referral,’ he said that his agency had obtained her mortgage documents and requested that the Justice Department review the matter.

Donald Trump, who is desperate to bring the Federal Reserve to heel, responded to the allegations with a four-word statement published to his social media platform: “Cook must resign, now!!!”.....

Pulte, the head of the Federal Housing Finance Agency, told CNBC this week that the criminal referrals were not politically motivated. Perhaps. But given everything we know about Pulte, there is some reason for skepticism. The Washington Post recently noted that the FHFA chief “has made a name for himself as a prominent Trump sidekick.” From the article:

Pulte, 37, has ramped up political infighting. ... He’s become a leading voice for ousting Federal Reserve Board Chair Jerome H. Powell, joining the president on a tour of the central bank and handing Trump a draft letter for Powell’s firing that — so far — remains unsent. He posts to social media constantly, like his boss in the Oval Office. ... Trump appears to be impressed. Last month, the president congratulated Pulte ‘on the outstanding job he is doing.’ In a post on Truth Social, he encouraged Pulte not to ‘LET THE RADICAL LEFT WEAKLINGS STOP YOU!’

All of which is to say, maybe we’re dealing with a story about a bunch of officials who’ve played fast and loose with their mortgage applications. Or maybe we’re dealing with a story about a federal bureaucracy being used in the service of a partisan vendetta.