On 8/26/2025 at 12:26 PM, webfact said:

Picture courtesy of BBC | Reuters

 

US President Donald Trump has abruptly removed Federal Reserve Governor Lisa Cook from her position, igniting a storm in the financial world. In a surprise announcement on his social media platform, Trump revealed he has terminated Cook's employment, citing alleged false statements on mortgage agreements as the reason.

 

Trump's letter to Cook claims she made inconsistent statements regarding her primary residence in different mortgage documents, a move he says justifies her dismissal. Both Cook and the Federal Reserve have yet to publicly respond to this startling development, which took the financial community by surprise late on Monday.

 

For weeks, Trump has ramped up pressure on the Fed and its chair, Jerome Powell, pushing for a reduction in interest rates. The dismissal of Cook, the first African American woman to serve on the board, is viewed as an extraordinary step in the Fed's 111-year history, raising questions about the limits of presidential power over the central bank.

 

Legal experts are currently considering the consequences of this drastic action. The White House may need to defend its decision in court by proving that the reasons for Cook’s firing are legitimate. Trump's public accusations include claims that Cook signed conflicting documents about her residency, suggesting potential mortgage fraud.

 

The saga began when Bill Pulte, a Trump ally in housing finance, flagged the allegations in a public letter to Attorney General Pam Bondi. Pulte urged a criminal investigation into Cook’s mortgage dealings. It remains unclear if any formal investigation is underway, but the tension surrounding this issue is palpable.

 

Cook, addressing the allegations last week, stated that she learnt about them through the media. SHe argues that the issue pertains to a mortgage application submitted before she worked at the Federal Reserve. Her statement decried the attempt to force her resignation, signalling her intent to provide evidence and defend her credibility.

 

If Cook challenges Trump's decision, it could lead to a significant confrontation between the central bank and the presidency. The Federal Reserve has operated independently from the US government since 1951, but this incident could test the boundaries of that independence.

 

Adding to the drama, Trump has openly criticised Powell, using colourful language to express his displeasure with the Fed's interest rate policies. Trump has long argued for large cuts to borrowing rates, clashing with Powell's more cautious approach.

 

Despite the president's frustration, Powell has recently suggested that a reduction in interest rates might be on the horizon. At a major central banking conference in Jackson Hole, Wyoming, Powell hinted at possible rate cuts in September while downplaying the lasting inflationary effects of Trump’s tariffs.

 

This turmoil arises during ongoing tensions between the White House and the Federal Reserve, as Trump's aggressive stance on interest rates represents a significant departure from traditional presidential conduct. The unprecedented removal of a Fed governor raises concern over the stability of financial governance.

 

As the fallout from Trump's bold move unfolds, the financial world is watching closely. This development not only puts the independence of the Federal Reserve under scrutiny but also sets the stage for potential legal battles and political strife. The coming days will reveal how this power struggle impacts the US financial system and international markets.

 

  Adapted by ASEAN Now from BBC 2025-08-26

 

He’s a racist, right down to his ballooning ankles, and also doesn’t like women in power jobs, not unless they put their nose between his cheeks on a daily basis! 
hope he f dies soon ! What a cheap peace of owned trash!

On 8/27/2025 at 12:43 PM, spidermike007 said:

There are so many aspects of hypocrisy that would be a fascinating study. In this particular case you have a man who's probably committed more bank fraud than the vast majority of individuals, and he's accusing one of the FED governors of bank fraud. That's rich. 

 

But those that are guilty are more likely to cast aspersions than those who are innocent. And Trump is as guilty as they come on so many different levels. 

 

Nuclear powered laser beam projections of their own iniquities onto those who disagree with them are standard for the right, especially obvious in the US and UK.

 

Accompanied by squeals of victimhood whilst they bully and trash as many vulnerable minorities and worthwhile things (like the rose garden) as possible.

 

Christ would have projectile puked if he'd run into this lot who also claim to be 'christians'. In fact they're the ones who crucified him back then.

Looks like it's a common thing with female civil servants, another female UK official caught in a similar real estate cheating scandal.

 

https://www.dailymail.co.uk/news/article-15061209/Angela-Rayner-admits-DIDNT-pay-stamp-duty-new-seaside-flat-tells-HMRC-shes-ready-stump-cash-refers-ethics-watchdog-Deputy-PM.html

Fed Governor Lisa Cook has received a restraining order and will stay on the Fed for now but at least until next meeting of the Federal Open Market Committee (FOMC) scheduled for September 16–17, 2025. 

 

NB from the table of contents for the initial Trump filing against any restraining order in support of Dr. Cook:

 

The determination of cause is committed to the discretion
of the President.

 

The judge did not agree.

https://finance.yahoo.com/news/us-treasurys-bessent-made-contradictory-150712424.html

 

US Treasury's Bessent made contradictory mortgage pledges, Bloomberg reports

 

WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent previously agreed to occupy two different houses at the same time as his "principal residence," Bloomberg News reported, an agreement similar to one President Donald Trump has called mortgage fraud in his unprecedented bid to fire Federal Reserve Governor Lisa Cook.

 

The Bloomberg report, published Wednesday, cites Bessent's mortgages with lender Bank of America and his pledge in 2007 to primarily occupy homes in New York and Massachusetts.