Trump calls on Federal Reserve governor Lisa Cook to resign, renewing attack on central bank [View all]

Source: The Guardian

Wed 20 Aug 2025 11.05 EDT
Last modified on Wed 20 Aug 2025 11.11 EDT


Donald Trump has called on a Federal Reserve governor to immediately resign, renewing his extraordinary attack on the central bank’s independence as officials mull next steps on interest rates. A close Trump ally accused Lisa Cook, an appointee of Joe Biden, of “potentially committing mortgage fraud” and urged the US Department of Justice to investigate. The claims have not been confirmed.

The US president has repeatedly broken with precedent in recent months to demand the Fed cut rates and urge its chair, Jerome Powell, to quit after disregarding such calls. On Wednesday, Trump leaped on the allegations about Cook. The governor “must resign, now!!!” he wrote on Truth Social, his social media platform.

Cook and the Fed did not respond to requests for comment.

Cook, whose current term on the Fed’s board extends until 2038, previously served on the council of economic advisers under Barack Obama. When she took office in May 2022, she became the first Black woman to sit on the central bank’s board.

Read more: https://www.theguardian.com/business/2025/aug/20/lisa-cook-trump-resign-fed-reserve-governor