Trump Action Archive

Supporting reports

• Trump demands Federal Reserve Governor Lisa Cook resign and threatens termination over unverified mortgage fraud allegations — President Trump publicly demanded that Federal Reserve Governor Lisa Cook resign, threatening to fire her if she does not step down voluntarily. The demand follows unverified allegations of mortgage fraud leveled by FHFA head Bill Pulte. Cook, appointed in 2022 for a 14-year term, has not been singled out as a Trump antagonist but her role on the Fed board that sets interest rates—which Trump has pressured to cut—appears to have made her a target. Cook stated she has "no intention of being bullied" and will gather information to address questions about her financial history.
• Trump fires Federal Reserve Governor Lisa Cook — Trump fired Lisa Cook, the first Black woman to serve as a governor of the Federal Reserve, accusing her of committing mortgage fraud. Cook said she will not resign, pointing out that Trump can only legally fire her "for cause" and that "no cause exists under the law." Her lawyer said Trump's "reflex to bully is flawed" and his demands lack legal authority.
• Trump announced removal of Federal Reserve Board Governor Lisa Cook "for cause" — President Trump announced via social media that he was removing Federal Reserve Board Governor Lisa Cook from her position "for cause," citing allegations from William Pulte (head of the Federal Housing Finance Agency) that Cook had made false statements on a mortgage years ago. Cook has not been charged with any crime. Trump has been pressuring the Federal Reserve to lower interest rates and has mused about taking control of the Fed himself. Cook responded stating Trump has no authority to remove her and she will not resign.
• Trump attempted to fire Federal Reserve Governor Lisa Cook — Trump attempted to fire Federal Reserve Governor Lisa Cook, claiming cause under the Federal Reserve Act. Cook, appointed by President Biden to a term ending in 2038, refused to resign and stated she would challenge the firing in court. Cook's attorney Abbe Lowell stated that Trump's action lacked proper process, basis, or legal authority. Under the Federal Reserve Act, Fed governors can only be removed "for cause," and Cook has not been charged with any crime. The justification came from Bill Pulte, Director of the Federal Housing Finance Agency, who cited alleged mortgage fraud investigations.
• Trump fired Federal Reserve Governor Lisa Cook without stated cause — President Trump removed Federal Reserve Governor Lisa Cook from office, citing mortgage fraud allegations that legal analysts suggest may not withstand court scrutiny. Trump justified the removal as addressing what his administration characterized as an unqualified diversity hire. The firing demonstrates presidential power over the Fed and signals intent to pressure the institution into adopting monetary policies aligned with Trump's preferences, undermining the Fed's institutional independence.