The economist whom Biden nominated and who currently serves on the Federal Reserve Board of Governors was accused of mortgage fraud
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President Donald Trump called for the resignation of Federal Reserve Governor Lisa Cook this Wednesday, after the Federal Housing Finance Agency accused her of mortgage fraud.
The president of that agency, Bill Pulte, published a letter addressed to Attorney General Pam Bondi, referring the case to her for investigation. The complaint alleges that the Democratic economist "forged bank documents and property records to obtain more favorable loan terms, which could constitute mortgage fraud under criminal law."
According to Pulte's letter, Cook obtained a mortgage in the state of Michigan, indicating that it would be her primary residence, and then applied for a loan for a condominium in the state of Georgia, specifically in the city of Atlanta, which she also identified as her primary residence.
La gobernadora de la Reserva Federal, la demócrata Lisa Cook. For Trump, Cook should resign immediately.
Trump stated on his Truth Social network that Cook should resign immediately. The Federal Reserve Governor is not the first Democrat to be involved in a case of mortgage fraud, since California Senator Adam Schiff and New York Attorney General Letitia James are also under judicial investigation for the same crime.
A resignation would open another vacancy on the board of governors of the central banking entity. A few weeks ago, Federal Reserve President Jerome Powell's right-hand person abruptly resigned to return to academic activity.
So far, no charges have been filed against Cook and it is not clear whether Bondi will investigate the case. Both the Department of Justice and the Federal Reserve declined to comment. Cook also chose to remain silent regarding the case.
Trump junto a Jerome Powell en conferencia.
The dangerous ideas of the economist Biden appointed to the Fed.
The economist was nominated for the position by former President Joe Biden in 2022 and her Senate confirmation hearing was not without controversy.
Republican senators pointed out that Cook supported a bill that would create a commission to study and develop proposals for reparations for African Americans. Meanwhile, the Democratic economist supported the idea that the Fed should focus on improving unemployment among African Americans, instead of focusing on the national employment rate.
Biden's nominee also called for the University of Chicago to fire its economics professor, Harald Uhlig, in June 2020, after he criticized the Black Lives Matter movement for its support of cutting police funding. Cook accused Uhlig of "racial harassment," arguing that "freedom of speech has limits."
