President Vows to Follow Proper Process to Oust Her Over Alleged Mortgage Fraud
President Donald Trump made it clear today he’s not letting the recent Supreme Court ruling slow him down. In a CNBC interview from the Oval Office, he announced plans to move forward with firing Federal Reserve Governor Lisa Cook.
“Get her off! By winning the case. The Supreme Court sent it back on process and procedure. So we’ll start the process and do perfect process!” Trump said.
Background on the Long-Running Battle
This fight kicked off last year when Trump first tried to remove Cook, citing mortgage fraud allegations brought forward by Bill Pulte, the Director of the Federal Housing Finance Agency. Pulte highlighted issues with Cook’s mortgage applications for properties in Michigan and Georgia, where both were reportedly listed as her primary residence close together in time.
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Cook has strongly denied any fraud and sued to keep her position. Lower courts blocked the firing, and just days ago on June 29, the Supreme Court ruled 5-4 that Trump couldn’t remove her immediately without proper due process. But the decision left room for the administration to try again the right way.1
Pulte’s Role and the Fraud Claims
Bill Pulte has been vocal, calling the situation clear-cut misconduct that needs addressing regardless of politics.
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What Happens Next
The Federal Reserve’s independence has been a hot topic throughout this saga. Cook, a Biden appointee and one of the first Black women to serve on the board, helps set key interest rate policies. Her removal could shift the balance on the board.
Trump’s team is now focused on building a solid procedural case to satisfy the court’s concerns. Supporters see this as accountability in action, while opponents worry it sets a dangerous precedent for the central bank.
The story is still developing fast—expect more legal moves and statements in the days ahead as the administration follows through on today’s announcement.
