Trump presses Fed and asks Lisa Cook to leave

The accusation of mortgage fraud against Lisa Cook rekindles the clash between Trump and the Federal Reserve and raises questions about the independence of the institution

The president Donald Trump on Wednesday (20) the resignation of the governor of the Federal Reserve (Fed), Lisa CookAfter one of her government allies accused her of mortgage fraud. The episode marks another chapter in the White House attempt to broaden its influence on the US Central Bank, traditionally seen as independent.

The accusation came from Bill PulteDirector of the agency that supervises the mortgage giants Fannie Mae e Freddie Mac. In a letter sent to the Attorney General Pam BondiPulse asked that the Department of Justice Open a formal investigation against Cook. He claims that the governor would have declared two main homes at the same time – one in Michigan and another in Georgia – For advantages in mortgage loans.

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According to the complaint, Cook would also have put to rent an apartment in Atlantapractice that, if proven, could configure fraud. In general, loans for used properties as a main residence have lower interest rates than those intended for investments or locations.

Cook was nominated for the Federal Board Reserve in 2022by the then president Joe Bidenand reappointed the following year for a long term, valid until 2038. The possibility of his departure would make way for Trump to appoint a substitute in line with his economic vision.

The pressure occurs at a time of tension between Trump and the Central Bank. The president has charged more aggressive cuts in the basic interest ratemeasure that, according to him, would encourage the economy. The Fed, however, maintained caution in the face of political pressures, prioritizing the fight against inflation.

In demanding Cook’s resignation, Trump made it clear that he intends to use all the opportunities to reinforce his influence on the Central Bank committee. He has publicly stated that he will only indicate people committed to lower interest rates.

Analysts say that the more members of the Fed Trump council can appoint, the greater his ability to direct the country’s monetary policy. This would put the independence of the institution, which has been relatively isolated from daily political disputes in Washington for decades.

The case of Lisa Cook has not yet been clarified and should generate strong debate in the coming days, not only about the veracity of the accusations, but also on the limits of political interference in conducting American monetary policy.

The president Donald Trump may have the opportunity to replace the current president of the Federal Reserve, Jerome Powellwhen your term expires in May 2026. However, experts warn that the simple exchange of the presidency does not guarantee that the Fed policy will strictly follow the president’s wishes. This is because 12 members of the interest rate definition committee They have the right to vote on increases or cuts, which dilutes the power of a single appointment.

Still, all seven members of the Administrative Board of the Fed have a vote in decisions related to interest rates. The other five voters include the president of the Fed branch in Nova York and a rotary group formed by four of the presidents of the other 11 regional branches.

During his first term, Trump had already appointed two members of the Fed Council: Christopher Waller e Michelle Bowmanboth critical to the central bank’s decision to maintain the basic interest rate unchanged in July 30instead of promoting it a reduction, as the White House wanted.

Recently, another governor, Adriana Kuglerhe unexpectedly renounced in August 1and Trump indicated Stephen Miranone of his economic counselors, to complete her mandate until January. If you can replace Lisa Cookthe first black woman to join the council, Trump would consolidate a clear majority on the council of governorsreinforcing its control over monetary policy. Powell, however, may remain on the council even after leaving the presidency in May 2026.

O Federal Reserve declined to comment publicly the accusations made against Cook.

Trump’s pressure on the Fed is not new. It has required for months that the institution reduces Short -term interest ratecurrently around 4,3%arguing that cuts would stimulate economic growth, benefit the real estate market and reduce the costs of government loans, which $ 37 trillion. Powell, in turn, defends caution, noting that the impact of the Trump government’s tariffs has not yet been completely evaluated and that such measures can press inflation and slow down economic growth.

In addition, Trump has already used accusations of mortgage fraud as a political instrument against democratic opponents, including the senator Adam Schifffrom California, and the Attorney General of New York, Letitia James. The new complaint against Cook is part of this same pattern of attempts to exercise pressure on independent figures in crucial organs for the economy.

If Trump’s maneuvers are successful, the president could turn the Fed into a body more aligned with his short -term priorities, but historical experience indicates that the independence of the Central Bank and the complexity of the voting system can significantly limit any direct influence. The tension between monetary policy and policy remains, and the coming months promise intense debates about the future of the Fed and control over the US economy.

With information from AP*