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Ladybbird · 26-08-25, 06:01

Trump FIRES BLACK Fed Governor Lisa Cook After FALSE Mortgage Fraud Allegation

Cook, First BLACK Woman, Successful For 14 Years Without a Blemish, to Sit on Central Banks Board, Would Allow Him to Put Forward a Replacement, IF Fraud is Proven.

Stock Market Share Value DROPPED After Announcement

The Guardian 26 AUG 2025

RACIST Trump has done it AGAIN. He moved to fire the Federal Reserve Governor Lisa Cook over allegations she committed mortgage fraud, the latest escalation in the US presidents attack on the central banks independence

Governor Lisa Cook

In May, the US supreme court suggested the president does not have power to fire, without cause, governors of the US central bank an independent agency whose members do NOT serve at the pleasure of the president

Trump wrote to Cook on Monday, telling her that he was removing her from her position effective immediately based on the allegation from one of his allies that she had obtained a mortgage on a second home she incorrectly described as her primary residence.

The claims have not been confirmed and last week Cook said she had no intention of being bullied into stepping down.

She said I do intend to take any questions about my financial history 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

Trump posted the full text of the letter on social media on Monday night BEFORE he informed Cook. In it, he said that he found sufficient cause in the allegation against her to remove her from her position, she must resign, NOW.

Cooks exit would allow Trump to tap a replacement, helping him to exert MORE control over Fed policy. His demands for lower interest rates have so far fallen on deaf ears.

Trump has pursued several of the presidents his enemies, including the New York attorney general, Letitia James, and the California senator Adam Schiff, over claims of mortgage fraud. Both James and Schiff denied the allegations.

Cook is not a politician, but is among a string of senior Fed policymakers who have defied Trumps persistent calls for rate cuts. Appointed by Joe Biden in May 2022, she became the first Black woman to sit on the central banks board. Her term on the Feds board was not due to end until 2038.

She is a respected economist, with stints at Harvard University and Stanford University, who served on the council of economic advisers under Barack Obama

The administrations attack on her future at the Fed was led by Bill Pulte, a Trump appointed official leading the US Federal Housing Finance Agency, who alleged she had claimed two different properties were her primary residences when obtaining mortgages in 2021

Senate Democratic leader Chuck Schumer criticised Trumps move against Cook. Donald Trump is playing a dangerous game of Jenga with a key pillar of our economy, he said.

This brazen power grab must be stopped by the courts before Trump does permanent damage to national, state and local economies. And if the economy comes crashing down, if families lose their savings and Main Street pays the price, Donald Trump will own every ounce of the wreckage and devastation families feel

The Fed chair Jerome Powell signaled on Friday that the Fed was gearing up to start cutting interest rates as soon next month, but reiterated warnings about the potential risks posed by Trumps policies, including sweeping tariffs and an immigration crackdown, on the economy

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26-08-25, 06:01	#1
Ladybbird Join Date: Feb 2011 Posts: 50,580 Thanks: 28,767 Thanked 14,428 Times in 10,234 Posts Awards Showcase Total Awards: 8	Trump FIRES BLACK Fed Gov, Successful For 14 Yrs, After FALSE Fraud Allegation Trump FIRES BLACK Fed Governor Lisa Cook After FALSE Mortgage Fraud Allegation *Cook, First BLACK Woman, Successful For 14 Years Without a Blemish, to Sit on Central Banks Board, Would Allow Him to Put Forward a Replacement, IF Fraud is Proven.* Stock Market Share Value DROPPED After Announcement The Guardian 26 AUG 2025 RACIST Trump has done it AGAIN. He moved to fire the Federal Reserve Governor Lisa Cook over allegations she committed mortgage fraud, the latest escalation in the US presidents attack on the central banks independence Governor Lisa Cook In May, the US supreme court suggested the president does not have power to fire, without cause, governors of the US central bank an independent agency whose members do NOT serve at the pleasure of the president Trump wrote to Cook on Monday, telling her that he was removing her from her position effective immediately based on the allegation from one of his allies that she had obtained a mortgage on a second home she incorrectly described as her primary residence. The claims have not been confirmed and last week Cook said she had no intention of being bullied into stepping down. She said I do intend to take any questions about my financial history 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 Trump posted the full text of the letter on social media on Monday night BEFORE he informed Cook. In it, he said that he found sufficient cause in the allegation against her to remove her from her position, she must resign, NOW. Cooks exit would allow Trump to tap a replacement, helping him to exert MORE control over Fed policy. His demands for lower interest rates have so far fallen on deaf ears. Trump has pursued several of the presidents his enemies, including the New York attorney general, Letitia James, and the California senator Adam Schiff, over claims of mortgage fraud. Both James and Schiff denied the allegations. Cook is not a politician, but is among a string of senior Fed policymakers who have defied Trumps persistent calls for rate cuts. Appointed by Joe Biden in May 2022, she became the first Black woman to sit on the central banks board. Her term on the Feds board was not due to end until 2038. *She is a respected economist, with stints at Harvard University and Stanford University, who served on the council of economic advisers under Barack Obama* The administrations attack on her future at the Fed was led by Bill Pulte, a Trump appointed official leading the US Federal Housing Finance Agency, who alleged she had claimed two different properties were her primary residences when obtaining mortgages in 2021 Senate Democratic leader Chuck Schumer criticised Trumps move against Cook. Donald Trump is playing a dangerous game of Jenga with a key pillar of our economy, he said. This brazen power grab must be stopped by the courts before Trump does permanent damage to national, state and local economies. And if the economy comes crashing down, if families lose their savings and Main Street pays the price, Donald Trump will own every ounce of the wreckage and devastation families feel The Fed chair Jerome Powell signaled on Friday that the Fed was gearing up to start cutting interest rates as soon next month, but reiterated warnings about the potential risks posed by Trumps policies, including sweeping tariffs and an immigration crackdown, on the economy .

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