Wednesday on FBN’s “Mornings with Maria,” Treasury Secretary Scott Bessent discussed the Trump administration’s firing of Federal Reserve Governor Lisa Cook and its handling of the Federal Reserve in general.
In response to allegations that Cook committed mortgage fraud, Bessent noted that Cook had not denied the allegations.
“There are two kinds of people — there are people who think that President Trump is putting undue pressure on the Fed, and there are people like President Trump and myself who think that if a Fed official committed mortgage fraud, that this should be examined, and that they shouldn’t be serving as one of the nation’s leading financial regulators,” he said. “And what we haven’t heard from Miss Cook is we haven’t heard her say ‘I didn’t do it.’ We haven’t her say ‘I didn’t do it.’”
He continued, “She keeps saying the president can’t remove her. The other thing too, I have called in the recent past for an internal review of all the Fed’s operations, and I have encouraged Chair Powell to do this on an internal basis before there is an external review and this is the kind of thing that needs to be addressed because the Fed is an unaccountable institution and its relationship with the American people depends on a high level of trust. And incidents like this puncture that trust, so President Trump is trying to make sure that anyone who serves at this institution has the trust of the American people.”
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