Federal Reserve Governor Lisa Cook is cooked. President Trump just officially fired Biden-appointed Fed Governor Lisa Cook from her role due to allegations of mortgage fraud. Check it out: President Donald J. Trump relieves Federal Reserve Governor Lisa Cook of her position pic.twitter.com/tJV8m4mlHW — Rapid Response 47 (@RapidResponse47) August 26, 2025 BREAKING: President Trump just FIRED Federal Reserve Governor Lisa Cook “I have determined that faithfully executing the law requires your immediate removal from office.” pic.twitter.com/oTwk5uPCgx — George (@BehizyTweets) August 26, 2025 About a week ago, Federal Housing Director Bill Pulte criminally referred Lisa Cook to the DOJ over potential mortgage fraud. After learning about this, President Trump demanded her resignation, and Lisa Cook refused. From ABC News: Last week, Trump called on Cook to resign on the same day that Bill Pulte, the director of the Federal Housing Finance Agency, posted on X part of an Aug. 15 letter sent to U.S. Attorney General Pam Bondi accusing Cook of falsifying bank documents and property records to acquire more favorable loan terms, “potentially committing mortgage fraud,” the letter stated. In a statement provided to ABC News last week, Cook said she learned from the media about Pulte’s letter seeking a criminal referral over the mortgage application, which predated her time with the Federal Reserve. “I have no intention of being bullied to step down from my position because of some questions raised in a tweet,” Cook said in the statement last week. “I do intend to take any questions about my financial history seriously as a member of the Federal Reserve and so I am gathering the accurate information to answer any legitimate questions and provide the facts.” Cook was nominated to serve on the board of governors in 2022 by former President Joe Biden. Her term runs until January 2038. Cook is the first Black woman in history to serve on the Federal Reserve Board of Governors. President Trump had threatened to fire Lisa Cook if she did not resign. As it turns out, he wasn’t bluffing. Per Fox Business: Trump threatened to remove Cook from her role on Friday as she faces mortgage fraud allegations that are under investigation by the Department of Justice (DOJ). The investigation was sparked by a criminal referral filed by Pulte, a staunch ally of Trump’s and a critic of the Federal Reserve. “I’ll fire her if she doesn’t resign,” Trump told reporters on Friday. “What she did was bad.” This is a huge deal. With Lisa Cook out, this opens up another vacancy on the Federal Reserve Board, which is responsible for setting interest rates. Recently, another Biden appointee reserved from the board, and President Trump installed Stephen Miran in that vacancy. Now, the Federal Reserve Board has the potential to become 5-2 Trump-appointed… BREAKING: The US Federal Reserve now stands to become 71% TRUMP-APPOINTED following the firing of Lisa Cook as Democrat Fed Governor. 5-2. – Stephen Miran (new)– Michelle Bowman– Christopher Waller– VACANCY (Lisa Cook)– CHAIRMAN Jerome Powell (2026, assuming he also steps… pic.twitter.com/oSGSB4VX0S — Eric Daugherty (@EricLDaugh) August 26, 2025 BREAKING: The US Federal Reserve now stands to become 71% TRUMP-APPOINTED following the firing of Lisa Cook as Democrat Fed Governor. 5-2. – Stephen Miran (new) – Michelle Bowman – Christopher Waller – VACANCY (Lisa Cook) – CHAIRMAN Jerome Powell (2026, assuming he also steps down as a Governor) Oh, this is so hilarious. The Federal Reserve is becoming as Trumpified as is physically possible. President Trump’s move is also historic — marking the first time a U.S. president has ever fired a Federal Reserve Governor. Bill Pulte, who referred Lisa Cook to the DOJ over mortgage fraud allegations, noted: Trump becomes the first president ever to remove a sitting Federal Reserve governor — Pulte (@pulte) August 26, 2025 In response to the big news, Pulte also released this statement: US FEDERAL HOUSING STATEMENT ON THE FIRING OF LISA COOK: Thank you President Trump for your commitment to stopping mortgage fraud and following the law. If you commit mortgage fraud in America, we will come after you, no matter who you are. William J. PulteDirector — Pulte (@pulte) August 26, 2025 However, it’s likely that President Trump’s firing of Lisa Cook will face legal challenges (as always when President Trump makes big moves..) CNBC has more: President Donald Trump on Monday fired Federal Reserve Governor Lisa Cook, an unprecedented and significant escalation of his attacks on the U.S. central bank’s independence over its refusal to cut interest rates quickly. Trump, in a termination letter to Cook posted on Truth Social, cited allegations that she had made false statements on applications for home mortgages. “In light of your deceitful and potentially criminal conduct in a financial matter, [the American people] cannot and I do not have such confidence in your integrity,” Trump wrote to Cook, who is the first Black woman to serve as a governor of the Federal Reserve “At a minimum, the conduct that issue exhibits the sort of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator.” Trump’s removal of Cook could be challenged in federal courts and eventually at the Supreme Court.