The US president has cited mortgage fraud allegations in his attempt to oust Lisa Cook
US President Donald Trump has taken steps to remove Federal Reserve Governor Lisa Cook, but her lawyer said they would contest the move, arguing that he lacks the authority to do so.
In a letter sent to Cook on Monday and posted on his Truth Social platform, Trump said he had “sufficient cause” to dismiss the first Black woman to sit on the Federal Reserve Board (FRB). He justified the firing, effective immediately, by pointing to allegations that she falsified records in order to obtain favorable mortgage terms.
The accusations came from Federal Housing…
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