Fed Governor does not have “intention to be bullied to withdraw” from Trump

“I do not intend to be bullied to withdraw from my position because of several questions raised in the tweet,” Cook said at the age released by the Fed.

Bill Pulte, head of the agency that regulates the giants of Fannie Mae and Freddie Mac and Trump’s death, reportedly on the social media platform early on Wednesday, that Cook claimed two primary residences – in Ann Arbor, Michigan and Atlanta – in 2021 to get a better mortgage. Mortgage rats are often higher in the second houses or purchased in the back.

Trump followed Pulte’s accusation by calling on Cook to resign, in the last efforts of the administration to apply more control over one of the lower independent agencies in Washington. Trump repeatedly attacked Fedu’s meat, Jerome Powell, for not cutting his short -term interest, and even threatened to fire him.

If the Cook is pushed out of the Fed Board, it would require Trump suitable for other loyalists. Trump said he would only surprise officials to support the lowering rates.

Pulte urged the Ministry of Justice to investigate Cook, which overlap into the Fed Board by President Joe Biden in 2022. The following year, it was re -appointed for a period that lasts until 2038, which is the longest remaining period between seven governors.

Cook also said, “I intend to take any questions about my financial history as a member of the federal reserve system, and therefore I collect accurate information to answer any legitimate questions and provide reality.”

Pulte said in a letter to the CEO of Pam Bondi that 18th June 2021 Cook bought a house in Ann Arbor and then two weeks later in Atlanta devoted a flat. Before entering the Fed, Cook was taught at the Michigan State University. Pulte also charged that Cook said his apartment apartment to return.

A spokesman for the Ministry of Justice refused to comment.

Last month, Trump blasted Powell at the cost of the balloon to reconstruct two Fed’s headquarters, even suggesting that running in costs could be offenses. After receiving a tour of the project, he retreated his threat to fire Powell.

Pulte also suggests that Cook’s alleged actions could represent a bent crime. Fed officials are protected by law from the removal of the President, with the exception of the “cause”, which is generally considered to be some kind of inaccuracy or reducing duties.

In any case, if Trump tries to shoot Cook, this could lead to a short battle for the President’s power to remove the Fed Governors.

The Democrats of the Senate, including the New York Senator Chuck Schumer, express their support for Cook and killed Trump’s actions.

“Trump is a liar. Lisa Cook – Stand Tough, and Trump intimates you,” Schumer wrote in a contribution to the X -Social Media platform.

Senator Massachusets Elizabeth Warren said in persecution that Trump “tried to intimidate or fire Powell meat and Federal Reserve and accuse anyone except for the failed economic policy.”

Trump will be able to replace Flesh Jerome Powell in May 2026, when the Powell period will expire. Yet 12 members of the Fed Settings Committee have a vote to raise rats or low interest, so even replacing the body ensures that the Fed policy will move as Trump wants.

The more members of the Fed control board that Trump can appoint, the greater the control will be an ablet over the Fed, which has long been considered independent of everyday policy.

All seven members of the Fed Board are able to vote on missing decisions. Five other voters include the President of the New York branch of the Fed and the Fed President’s rotary group of another 11 regional branches.

Trump scored two members of the Fedu Council in his first term Christopher Waller and Michelle Bowman. Both disagreed on July 30th since the Central Bank’s decision to maintain their rate unchanged in favor of the reduction of rates.

Another Governor of Fed, Adriana Kugler, resigned on August 1, and Trump nominated one of his economic advisors Stephen Miran to fill the rest of his term until January.

If Trump is able to replace Cook, the first black woman to serve on Fedu’s album, as well as Kugler, would give him a clear majority on the Governor’s Council. If Powell leaves the Council when his term of office as chairman will end next May, Trump will be able to take fifth place. Powell, however, could remain on board Unil at the beginning of 2028 after the completion of his term as a chair.

Presidents of regional federal reserve banks are selected by the council of directors of these banks, but are subject to the approval of the Fed Governor Council. The conditions of all 12 regional Fed presidents will end next February.

For months, Trump has asked the federal reserve system to reduce the short -term interest rate that controls, which is currently about 4.3%. He repeatedly offended Powell, who said the Fed would like to see more evidence of how the economy evolves in response to the extensive Trump tariffs than any movements. Powell also said that dies at risk of increasing inflation and slow growth.

Trump says a lower rate would reduce the cost of government loans to a debt of $ 37 trillion and increase the housing market by reducing the mortgage. However, mortgage costs and other interest rates, including many of those paid by the government, do not always adhere to the Fed’s decision.

The Trump administration raised a similar claim about the mortgage fraud against the Democrats, which Trump attacked, was the California Senator Adam Schiff and the General Prosecutor of New York Letitia James.