Overview

• FHFA Director Bill Pulte alleged Cook falsified bank and property records to secure favorable mortgage terms, citing 2021 loans tied to homes in Michigan and Georgia.
• Trump called for Cook’s immediate resignation on his social platform, intensifying a broader campaign pressing the Fed and Chair Jerome Powell to cut interest rates.
• Cook said she will not be intimidated into stepping down and is assembling records to answer any legitimate questions about her financial history.
• Some outlets report the Justice Department plans a review led by Ed Martin and has notified Powell, though DOJ has not confirmed and no charges have been filed.
• The clash comes as markets turn cautious ahead of Jackson Hole and the Fed’s September meeting, with legal limits making removal of a Fed governor difficult absent proven misconduct.