“Cook must give up now!” In the truth of his social network, Donald Trump called on Wednesday, August 20, the resignation of Lisa Cook, one of the governors of the Federal Reserve (Fed) and a member of his monetary policy committee, accentuating the pressure on an institution that considers too much reluctant to support his economic policy.
The head of the Housing Financing Agency (FHFA), Bill Abrete, appointed by Donald Trump, recognized Lisa Cook on Wednesday to have “falsified bank documents and property records to obtain favorable loan conditions” for two real estate loans, Bloomberg specialized agency reported.
The director of the FHFA asked the Department of Justice to open an investigation addressed to Lisa Cook, believing that “the mortgage fraud is under criminal legislation,” according to the document reproduced by the news agency.
Tensions between Donald Trump and the Fed
Such resignation would allow Donald Trump to strengthen his control over the Fed to renew two seats and, therefore, he expects, see the central bank that reduces his interest rates more quickly to support his economic measures, the increase in customs tasks and the richest taxes for the richest in particular.
The US president attacks the president of the Fed, Jerome Powell, according to him “too slow” to reduce interest rates, and hopes to replace him with a person closer to his ideas after his mandate in May 2026.
The election of his successor is a very strategic appointment, at a time when the customs war launched by the US president has made the uncertain economic perspectives.
Eleven candidates for the succession of Jerome Powell
According to the Secretary of the Treasury, Scott Besent, the United States government has eleven candidates for the position, among which Donald Trump plans to present several names in early September.
The US president has already taken advantage of the resignation of another Fed official, Adriana Kugler, to appoint one of his nearby economic advisors, Stephen look, before the renewal planned for this position, at the end of January.
Stephen Miran’s appointment, who until now advised the president and defended his economic policy in the media, must be confirmed by the Senate with a republican majority.
Source: BFM TV
