President Donald Trump on Wednesday publicly called for Federal Reserve Governor Lisa Cook to resign, escalating his administration’s pressure campaign on the central bank.
Posting on his social media platform, Trump wrote that “Cook must resign, now,” attaching a Bloomberg report alleging she had been referred for criminal prosecution in connection with possible mortgage fraud.
The report, citing Federal Housing Finance Agency Director Bill Pulte, claimed that Cook may have engaged in misconduct while holding financial assets.
No charges have been filed, and Cook has not publicly commented on the allegations.
Cook, a prominent economist and the first Black woman to serve on the Federal Reserve Board of Governors, was nominated in 2022 by then-President Joe Biden. Her term extends until January 2038.
The resignation demand comes as Trump has intensified his criticism of the Federal Reserve, which he has accused of slowing economic growth through restrictive monetary policy.
Trump has already been able to influence the Fed’s makeup, nominating Stephen Miran to replace Adriana Kugler, who resigned from the board earlier this year.
If Miran is confirmed in time, he will participate in the Fed’s September policy meeting.
Cook’s removal would create another vacancy, giving Trump additional power to reshape the seven-member board with figures more closely aligned to his economic agenda.
Analysts say this could accelerate a shift in U.S. monetary policy toward lower interest rates and looser credit conditions, though it would raise concerns about political interference in central bank independence.
The White House and Federal Reserve have not issued statements regarding Trump’s latest demand.