Trump calls for Fed Governor Cook resignation

Trump urged Fed Governor Lisa Cook to resign over unproven fraud claims and shared a signed letter on social media.

Trump calls for Fed Governor Cook resignation now

Former President Donald Trump called for Fed Governor Lisa Cook to resign after posting a letter alleging she falsified documents to claim Michigan and Georgia properties as her primary residence. The document, which Trump shared on X, appears to bear Cook's signature but offers no verifiable evidence and describes the submission as a criminal referral to the Justice Department.

Cook was appointed in 2022 by President Joe Biden. The DOJ and the Federal Reserve declined to comment on the allegations or Trump's remarks. Earlier this month, Adriana Kugler resigned, opening the way for Stephen Miran to be nominated to the board, still awaiting Senate confirmation. Powell is set to address an economics summit in Jackson Hole as markets await the September meeting for potential rate moves.

This episode shows how social media can pull a central bank into political theater. It tests the boundary between public critique and official influence, and it highlights how quickly headlines can shape perceptions of policy.

If officials and the public see accusations as a shortcut to policy outcomes, confidence in the Fed could erode. The longer the dispute stays in the public eye, the more it risks turning monetary decisions into political contests rather than technical judgments.

Highlights

The credibility of the Fed will depend on measured responses and clear boundaries