Overview

• President Donald Trump called for Lisa Cook’s immediate resignation after FHFA director Bill Pulte alleged she obtained favorable mortgages by declaring two different homes as her primary residence weeks apart.
• Cook said she will not resign and is compiling records to address any legitimate inquiry into her financial history, stating she will not be intimidated by social media demands.
• Pulte’s letter to Attorney General Pam Bondi, published by Bloomberg, included mortgage documents and an apparent 2022 rental listing tied to a property he says Cook designated as a primary residence.
• No criminal charges have been filed; multiple outlets report the Justice Department will examine the matter, and some reports say DOJ official Ed Martin could lead a review, though no formal action has been announced.
• The clash intensifies the White House campaign to reshape the Fed and press for rate cuts as Jackson Hole begins, following Adriana Kugler’s exit and the nomination of Stephen Miran to the Board.