Lisa Cook said she will not resign after accusations that she committed mortgage fraud were posted on social media. Bill Pulte alleged on X that Cook claimed two primary residences in 2021—one in Ann Arbor and one in Atlanta—to obtain better mortgage terms. Mortgage rates are often higher on second homes or properties purchased to rent. President Trump called on Cook to resign and has repeatedly pressured the Federal Reserve, including criticism of Chair Jerome Powell over interest rates. Pulte urged the Justice Department to investigate. Cook was appointed in 2022 and reappointed to a term lasting until 2038; removal would allow a presidential replacement.
I have no intention of being bullied to step down from my position because of some questions raised in a tweet,
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.
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