WASHNGTON, D.C.—President Donald J Trump today announced to X the immediate removal of Federal Reserve Governor Lisa Cook, a Biden appointee, “for cause” under Article II of the U.S. Constitution.

Although the Board is intended to act independently, a president can remove any governor for inefficiency or misconduct. Cook’s removal is centered on a recent discovery that she claimed two addresses as her primary residency in 2021—a Michigan property and a Georgia property—allegedly to receive tax breaks (mortgage fraud).

In June 2021, Cook entered into a 15-year mortgage agreement for a property in Ann Arbor, Michigan. According to Bill Pulte, head of the U.S. Federal Housing Finance Agency and a Trump ally, Cook declared this property as her primary residence. This designation typically qu

See Full Page