Overview

• Trump announced the dismissal in a Truth Social letter and asserted constitutional authority to remove Cook from the Federal Reserve Board.
• The allegations, made by Bill Pulte, claim Cook identified two primary residences in 2021 in Ann Arbor and Atlanta to secure better mortgage terms.
• Cook had previously rejected a request to resign, and legal challenges are expected that could allow her to remain in office while courts review the dispute.
• Because the Fed board has seven governors, replacing Cook could influence future monetary policy direction if the White House installs a loyalist favoring rate cuts.
• Market analysts warn the move adds policy uncertainty that could weaken the dollar against some emerging‑market currencies, including the Mexican peso, and raise volatility.