"Trump published a letter in August saying he was firing Cook for "cause" based on a criminal referral from Pulte, who leads the Federal Housing Finance Agency, and says Cook lied on mortgage documents. Pulte says Cook took out mortgages at around the same time for properties in Georgia and Michigan and said that each would be her primary residence. Cook sued Trump last week, saying Pulte's allegations didn't meet the legal standard for a "cause" firing."
"Pulte on Wednesday canceled the press conference, however, tweeting he was doing so "out of respect for the process." Now, The Wall Street Journal is reporting that the Justice Department has opened a criminal investigation into Cook. The Justice Department is using grand juries and sending subpoenas as part of its investigation, according to the Journal. The criminal investigation would mark a major escalation in the Trump administration's war against Cook, whose term ends in 2038."
Bill Pulte announced plans for a press conference to present "new information" about Federal Reserve Governor Lisa Cook and later canceled the event "out of respect for the process." The Wall Street Journal reports the Justice Department has opened a criminal investigation into Cook and is using grand juries and issuing subpoenas. The investigation escalates the Trump administration's campaign against Cook. Trump published a letter in August seeking to fire Cook for "cause" based on a referral from Pulte, who alleges Cook lied on mortgage documents. Cook sued, and a judge is considering a temporary restraining order to keep her in her role ahead of the Fed's September 16 meeting.
Read at Business Insider
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