Newscasts - Trump calls on Fed Governor Cook to resign over mortgage allegations
21/08/2025 04:28
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_cn0ir53j&referenceId=tag:reuters.com,2025:newsml_RW866021082025RP1_930&pageId=Newscasts Source: 'Reuters - Business videos' Description: President Donald Trump on Wednesday called on Federal Reserve Governor Lisa Cook to resign on the basis of allegations made by one of his political allies about mortgages she holds in Michigan and Georgia, intensifying his effort to gain influence over the U.S. central bank. Julian Satterthwaite reports. Short Link: https://refini.tv/478CXwk Video Transcript: Donald Trump has stepped up his bid to gain sway over the Federal Reserve. On Wednesday, he called on Central Bank Governor Lisa Cook to resign. That followed allegations against her by Federal Housing Finance Agency Chief William Pulte, a Trump ally. He says Cook made false declarations in a loan application connected to her properties in Michigan and Atlanta. Pulte called on Attorney General Pam Bondi to investigate and an official said the Justice Department was taking the matter very seriously. Cook said she had no intention of being bullied into stepping down and was gathering the information required to answer any questions. She was appointed by former president Joe Biden and is the first Black woman to serve on the Fed board. Now, the Wall Street Journal says Trump has told aides he may try to fire Cook if she won't go. Her departure would allow him to nominate an ally to fill her position. That would come on top of his fierce criticism of Fed Chief Jerome Powell, who he says has been too slow to cut rates. People aren't able to buy a house because this guy is a numbskull, he keeps the rates too high. Trump has at times suggested he could oust Powell before his term ends, though he has also denied having any such intention. His Administration has previously used mortgage fraud investigations to go after political enemies. That includes New York State Attorney General Letitia James and Democratic Senator Adam Schiff, both of whom deny all wrongdoing.