Attorney General Pam Bondi has initiated a criminal investigation into Federal Reserve Governor Lisa Cook. The focus is on allegations that Cook provided false information on mortgage applications. This investigation follows a contentious legal battle between Cook and President Donald Trump, who recently attempted to fire her.
Trump has openly criticized the Federal Reserve, particularly its Chairman Jerome Powell, for not reducing interest rates. He wants to gain more control over the central bank and has signaled his intention to fill the board with his supporters.
Reports indicate that the investigation is centering around Cook’s properties in Michigan and Georgia, and grand juries are involved. Just last month, Bill Pulte, a Trump-appointed director, accused Cook of engaging in mortgage fraud, which Trump leveraged as justification for her dismissal.
Cook’s lawsuit claims that Trump violated the law with his firing, arguing his motive was to undermine the independence of the Federal Reserve. The White House insists Trump acted within his legal rights, as the Federal Reserve Act allows for the dismissal of governors “for cause.”
If Cook is removed, Trump aims to fill the board with individuals aligned with his policies. He mentioned the potential for significant changes to the housing market, pointing out that high interest rates are problematic.
Additionally, the DOJ under Bondi is also examining other Trump critics for similar allegations of mortgage fraud, including officials like New York Attorney General Letitia James.
The investigation isn’t without its controversies. Critics have raised eyebrows over Bondi’s handling of politically charged cases, especially given the ongoing calls for transparency regarding former financier Jeffrey Epstein—a case that continues to draw public interest.
As events unfold, a judge is currently reviewing Cook’s request to prevent her removal, while Trump looks to solidify his influence over the Federal Reserve.
The political landscape continues to shift rapidly, illustrating the tension between federal authority and presidential power.
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