Trump said that Cook was fired with immediate effect in a note posted to Truth Social. In the document, he accused her of “deceitful and potentially criminal conduct.”
Cook, 61, found herself in the crosshairs of the Trump administration on Monday when the letter, which Pulte addressed to Attorney General Pam Bondi, was released. President Donald Trump called for Cook to resign just hours after the news was made public.
Pulte has targeted Trump opponents over allegations of mortgage fraud. The firing of Cook is especially notable in light of Trump’s efforts to pressure the central bank to lower interest rates.
Cook’s early departure gives Trump the ability to nominate a new person to the Fed board, presumably someone who would share his desire for the central bank to slash interest rates. Trump has repeatedly berated Fed Chairman Jerome Powell for refusing to cut rates this year. Cook has consistently voted to hold interest rates steady rather than cut.
Another Fed governor who voted to hold interest rates steady, Adriana Kugler, recently and unexpectedly resigned, handing Trump another opening on the board. Two members of the Federal Open Market Committee voted to lower interest rates at the last meeting: Christopher Waller and Michelle Bowman.
In the letter to Bondi, Pulte said it appears Cook “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.”
“This has included falsifying residence statuses for an Ann Arbor, Michigan-based residence and an Atlanta, Georgia-based property in order to potentially secure lower interest rates and more favorable loan terms,” Pulte wrote.
BIGGEST IMMEDIATE CHANGE FOR FED UNDER NEW CHAIR LIKELY TO BE TONE SHIFT
Pulte has emerged, perhaps unexpectedly, as one of Trump’s most vociferous attack dogs and the administration’s leading critic of the Fed’s monetary policy and Powell.
In his role as FHFA Director, Pulte oversees the government-sponsored enterprises Fannie Mae and Freddie Mac.
