Trump raises pressure on US central bank, calls for Fed governor to resign
"Cook must resign, now!!!" Trump wrote on his Truth Social platform, while sharing a Bloomberg news report on how the Federal Housing Finance Agency's director has called for greater scrutiny of Cook over a pair of mortgages.
FHFA director Bill Pulte -- a staunch ally of Trump -- had reportedly written a letter to the US attorney general calling for an investigation of Cook while suggesting that she might have committed a criminal offense.
The Trump administration has pursued allegations of mortgage fraud against high-profile Democrats who are seen as political adversaries of the president. It was not immediately clear if such a probe will take place targeting Cook, the first Black woman to serve on the central bank's board.
The president is also limited in his ability to remove officials from the central bank.
A Supreme Court order recently suggested that Fed officials cannot be taken out of their jobs over policy disagreements, meaning they have to be removed for "cause," which could be interpreted to mean wrongdoing.
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