"This marks the second setback for Trump in the dispute. In September, a federal appeals court denied his last-minute attempt to block Cook from participating in the Federal Open Market Committee (FOMC) meeting. Trump has repeatedly pressured the Fed, including Chair Jerome Powell, to cut rates. On Sept. 17, the Fed lowered its benchmark interest rate by 25 basis points, the first cut since December 2024."
"A second referral, filed later in August, concerned a Cambridge, Massachusetts, condominium. Pulte alleges Cook obtained a $361,000, 15-year loan in April 2021 by declaring it a second home, but later disclosed rental income from the property, suggesting it was used as an investment. The Department of Justice opened an investigation on Sept. 4 into whether Cook misrepresented the occupancy of the three properties to obtain better mortgage terms."
The Supreme Court deferred an application for a stay presented to the Chief Justice and referred to the Court, scheduling oral argument for January 2026. A federal appeals court previously denied an effort to block Cook from participating in the FOMC meeting. The Fed cut its benchmark rate by 25 basis points on Sept. 17. Stephen Miran was the lone vote for a 50 bps cut. Federal officials, including FHFA Director Bill Pulte, allege Cook misrepresented occupancy on multiple 2021 property purchases and submitted criminal referrals. The Department of Justice opened an investigation, and Cook sued after Trump attempted to remove her.
Read at www.housingwire.com
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