The fed official vows to fight the action, claiming the president does not have the authority to remove her.
President Donald Trump announced that he had relieved Federal Reserve Governor Lisa Cook of her position after Federal Housing Authority Director William Pulte sent a criminal referral to the Justice Department, which accused her of having “falsified bank documents and property records.“ The fed governor claimed homes in both Michigan and Georgia as her primary residence in under a month in 2021, according to mortgage documents.
“The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve,” President Trump wrote to Cook. “In light of your deceitful and potentially criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity. At a minimum, the conduct at issue exhibits the sort of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator.”
The president cited his authority under Article II of the Constitution of the United States and the Federal Reserve Act of 1913 to remove her, writing, “I have determined that there is sufficient cause to remove you from your position.”
“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook stated in her response. “I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022.”
As the Lord Leads, Pray with Us…
- For President Trump to seek God’s guidance as he assesses the integrity and actions of federal officials.
- For Fed Governor Cook to be transparent in her assertions regarding the alleged mortgage fraud and fights to maintain her position.
- For Chair Powell and Federal Reserve governors to conduct public and personal business with honesty and integrity.
- For FHFA Director Pulte as he seeks to ensure federal mortgage laws are upheld and enforced.
Sources: UPI News, Townhall, Roll Call, Daily Wire
