On Wednesday, President Donald Trump demanded that a senior Federal Reserve policymaker step down after one of his supporters claimed she had engaged in mortgage fraud. In a letter dated August 15, Bill Pulte, director of the Federal Housing Finance Agency, asked the Justice Department to look into two mortgages that Fed Governor Lisa Cook had taken out in recent years.
Trump made reference to those claims on social media on Wednesday, saying, “Cook must resign, now! Pulte, a strong supporter of Trump, has often attacked the Fed and its chairman, Jerome Powell, for failing to cut interest rates. He also demanded that the central bank’s expensive renovations to its headquarters in Washington, DC, be given more attention.
In a phone interview with CNBC on Wednesday, Pulte stated, “She needs to explain herself, but it’s all there in black and white.” “I believe she should step down immediately. Pulte claimed in the letter, which he shared on social media, that Cook, a Biden appointment, “may have committed mortgage fraud under the criminal statute by falsifying bank documents and property records to obtain more favorable loan terms.
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