Federal Reserve Chairman Jerome Powell is continuing to allow Lisa Cook to have access to her office and electronics despite President Trump ordering her firing.
President Trump on Monday evening fired Biden-appointed Federal Reserve Governor Lisa Cook amid mortgage fraud allegations.
“Pursuant to my authority under Article II of the Constitution of the United States and the Federal Reserve Act of 1913, as amended, you are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately,” President Trump wrote in a letter to Lisa Cook.
“I have determined that there is sufficient cause to remove you from your position,” Trump added as he cited housing regulator Bill Pulte’s criminal referral on Lisa Cook for mortgage fraud – specifically occupancy fraud.
Lisa Cook later in the week filed a lawsuit to block President Trump from firing her.
Cook admitted that she manufactured documents and hinted a ‘clerical error’ is behind the mortgage fraud accusations.
“Even if the President had been more careful in obscuring his real justification for targeting Governor Cook, the President’s concocted basis for removal—the unsubstantiated and unproven allegation that Governor Cook “potentially” erred in filling out a mortgage form prior to her Senate confirmation—does not amount to “cause” within the meaning of the FRA and is unsupported by caselaw,” the complaint read.
Pulte on Thursday evening sent a second criminal referral on embattled Federal Reserve Governor Lisa Cook after she was allegedly caught lying about a third property.
According to Pulte, Cook misrepresented a condominium in Cambridge, Massachusetts when she claimed it was a “second home”. Eight months later, Cook signed an ethics form with the US Government and represented the Cambridge property as an “investment/rental property.”
Banks and lenders give more favorable loan terms and lower interest rates for second homes. Mortgage loans on investment properties have higher interest rates because they are considered high risk.
“In subsequent filings from 2022 to 2025, Cook consistently listed this property as an investment/rental property, not a second home,” Pulte said.
3 strikes and you’re out.
Today, U.S. Federal Housing sent a 2nd Criminal Referral in the matter of Lisa D. Cook, related to a mortgage on a 3rd property and alleged misrepresentations about her properties to the United States Government during her time as Governor of the… pic.twitter.com/TAH68Mia23
— Pulte (@pulte) August 29, 2025
In the meantime, Jerome Powell is allowing Lisa Cook to have access to her office and electronics as if she hasn’t been fired.
CNBC reports that Jerome Powell has continued to let Lisa Cook have access to her office and electronics, despite the President of the United States ordering her firing.
— Pulte (@pulte) August 29, 2025
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