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
Poland shot down a drone in its airspace on Wednesday with the support of military aircraft from its NATO allies. This is the first time a member of the Western military alliance is known to have fire...
U.S. President Donald Trump has urged European Union officials to levy tariffs of up to 100% on China and India as part of a strategy to pressure Russian President Vladimir Putin, Reuters reported on ...
Russian forces attacked a thermal power plant in the Kyiv region as part of an overnight attack, Ukraine's Energy Ministry said on Monday, triggering local power outages and gas outages. The attack c...
High-stakes energy diplomacy in Beijing this week signals China's willingness to challenge US President Donald Trump's efforts to isolate Russia and assert US energy dominance. Chinese President Xi J...
President Volodymyr Zelenskiy will urge stronger pressure on Moscow when he meets with allies in Denmark and France on Wednesday after Russian forces launched a massive airstrike on Ukraine, damaging ...
Poland shot down a drone in its airspace on Wednesday with the support of military aircraft from its NATO allies. This is the first time a member of the Western military alliance is known to have fired during Russia's war in Ukraine. Polish Prime...
Gold prices hovered near an all-time high on Wednesday, buoyed by expectations of a U.S. interest rate cut this month, while market participants awaited U.S. inflation data for clues on the Federal Reserve's monetary policy path. Spot gold was up...
Gold prices are currently rising on Wednesday (September 10th), driven by growing expectations that the Federal Reserve will cut interest rates at its meeting next week. Weaker-than-expected US economic data, including revised Nonfarm Payrolls and...
The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on...
Russian forces attacked a thermal power plant in the Kyiv region as part of an overnight attack, Ukraine's Energy Ministry said on Monday,...
The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...
European shares finished higher on Monday, while French stocks also rose as investors stayed calm in the run-up to a no-confidence vote later in the...