U.S. President Donald Trump said on Monday evening that Federal Reserve Governor Lisa Cook was to be removed from her post, effective immediately, alleging that she made false statements in two mortgage applications.
Trump, in a letter released to social media, said that there is "sufficient cause" for Cooke's removal.
"There is sufficient reason to believe (Cook) may have made false statements on one or more mortgage agreements," Trump said in a letter, alleging that Cook declared two separate properties as her primary residences in two separate mortgage agreements signed within weeks of each other.
The allegations against Cook were raised earlier in August by Federal Housing Finance Agency Director William Pulte.
Cook had denied Pulte's allegations, then stating that "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."
Reports earlier this week showed Trump was moving to fire Cook, as the president seeks to gain more influence over the central bank.
Source: Investing.com
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