Trump calls on Fed governor Lisa Cook to resign
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"No American thinks it is appropriate that she serve during this time with a cloud hanging over her,” Ed Martin wrote in a letter to the Fed chair.
The Justice Department signaled possible plans to investigate Federal Reserve Governor Lisa Cook, with a top official informing Federal Reserve Chair Jerome Powellof the probe and encouraging him to remove her from the board in a letter sent Thursday.
President Donald Trump threatened to fire Governor Lisa Cook if she doesn't resign amid a DOJ investigation into allegations Cook committed mortgage fraud.
Cook, the first Black woman to serve on the Fed board, said she had "no intention of being bullied to step down" after Trump called for her resignation.
In the coming months, Trump is set to nominate a new Fed chair and another governor, both with permanent votes on the 12-member rate-setting committee.
The U.S. Justice Department plans to investigate Federal Reserve Governor Lisa Cook, with a top official informing Federal Reserve Chair Jerome Powell of the probe and encouraging him to remove her, Bloomberg News reported on Thursday.