President Trump isn’t playing any games with Fed Governor Lisa Cook. Cook, who has been under fire for the last two weeks for allegedly committing mortgage fraud, may find herself out of a job. While being interviewed at the People’s House Museum, Trump shared that he will be forced to fire Cook if she doesn’t resign soon. CNBC provided a further report on Trump’s comments: President Donald Trump said Friday he will fire Federal Reserve Governor Lisa Cook if she does not resign from her position. “What she did was bad,” the president told reporters who asked about Cook, an appointee of former President Joe Biden who has come under fire from the Trump administration over allegations about her mortgages. “So I’ll fire her if she doesn’t resign,” he said during a surprise visit to The People’s House, a museum of the White House. If Trump were to successfully remove Cook “for cause,” he would get the chance to reshape the central bank’s governing board, potentially for years to come. Two of the seven current governors, Christopher Waller and Michelle Bowman, are Trump appointees. Both dissented from the Fed’s most recent decision to hold interest rates steady. Another seat opened up earlier this summer, when Adriana Kugler announced she would step down. If Trump is able to remove Cook, he would appoint her replacement — effectively ensuring that a majority of the board shares his view of monetary policy. Board members serve 14-year terms. Watch Trump here: BREAKING: President Trump announces he will fire Fed Governor Lisa Cook if she doesn’t resign amid the mortgage fraud probe: “If she doesn’t resign, yes. I’ll fire her.” pic.twitter.com/Er43zEIeVG — Benny Johnson (@bennyjohnson) August 22, 2025 In case you’re unfamiliar with what a Fed governor does, they sit on the board of the Federal Reserve and monitor regulations and monetary policies. The Hill reported more details on the fraud accusations against Cook: FHFA Director William Pulte wrote Wednesday morning on social platform X that Cook had designated two of her houses as her primary residences. “Lisa D. Cook, committed mortgage fraud by designating her out-of-state condo as her primary residence, just two weeks after taking a loan on her Michigan home where she also declared it as her primary residence,” he said. Trump called for Cook to step down shortly thereafter. “Cook must resign, now!!!” he wrote on his own social media website, Truth Social. Pulte said his agency sent a criminal referral to the Department of Justice (DOJ) regarding the allegations against Cook. In his series of posts, Pulte included photographs of document signatures apparently belonging to Cook that allegedly applied to two different residences, one in Michigan and another described as an “Atlanta condo.” “I believe the DOJ will open a criminal investigation into her alleged mortgage fraud,” he said. The Hill asked the Justice Department whether it will investigate the claims from Pulte. The Federal Reserve declined to immediately comment on the allegations. Government mortgage credit provider Fannie Mae describes on its website “the limits that apply to the number of financed properties a borrower may have.” In a table on that page for principal residences, the “maximum number of financed properties” is designated as having “no limit. The Trump administration has been engaging in a pressure campaign on the Fed for several months. Trump and Pulte have repeatedly called for the central bank to lower interest rates, which it has not done due to rising inflation. Lower interest rates would make borrowing cheaper and likely spur stock market gains. Trump accused Fed Chair Jerome Powell of fraud earlier this summer over an ongoing renovation project at Fed headquarters in Washington. Following a report in July that Trump had discussed attempting to fire Powell with congressional Republicans, he later said it was “highly unlikely” that he would do so after the stock market dipped on his initial comments, “unless he has to leave for fraud.”