Trump Demands Fed Governor Lisa Cook Resign

Former U.S. President Donald Trump has escalated his ongoing criticism of the Federal Reserve, calling on Federal Reserve Governor Lisa Cook to resign. 

The demand, made Wednesday via his social media platform Truth Social, intensifies political pressure on the central bank as it continues to face scrutiny over interest rate policy and internal oversight.

“Cook should resign now,” Trump wrote, sharing a Bloomberg report referencing calls for increased scrutiny over two controversial mortgage files associated with Cook.

Trump's latest comments follow repeated criticisms of Fed Chair Jerome Powell, whom he has lambasted for not cutting interest rates aggressively enough. Trump has previously labeled Powell “an idiot” and “stupid,” claiming the Fed’s cautious stance on monetary easing is damaging the U.S. economy amid ongoing tariff-driven inflationary pressures.

The former president also once suggested that the cost of renovating the Federal Reserve’s headquarters could justify Powell’s removal, though he later backtracked on that position.

Trump’s call for Cook’s resignation was echoed by Bill Bolt, director of the Federal Housing Finance Agency and a close Trump ally. Bolt reportedly sent a letter to the U.S. Attorney General urging a federal investigation into Cook’s mortgage dealings, hinting at potential criminal conduct. It remains unclear whether the Justice Department will act on this request.

Appointed to the Fed’s Board of Governors in May 2022, Lisa Cook was reappointed in September 2023 for a term that runs through 2038. A former member of President Barack Obama’s Council of Economic Advisers, Cook has become a political target for Trump and other Republican figures who often criticize officials tied to Democratic administrations.

Cook is also known for her more cautious stance on monetary easing. Recently, she dismissed the idea of a 50-basis-point rate cut in September, another point of contention for Trump and his economic allies, who are calling for steeper and faster rate reductions.

With Powell’s term as Fed Chair set to expire in May 2026, Trump’s intensified attacks may foreshadow a broader campaign to reshape the central bank's leadership if he returns to the White House. Analysts warn that political interference in Fed policy could undermine the institution’s independence at a critical time for the global economy.