- US President Donald Trump has announced the dismissal of Federal Reserve governor Lisa Cook, citing unconfirmed allegations of mortgage fraud.
- Trump's decision follows a criminal referral from William Pulte, director of the Federal Housing Finance Agency, alleging Cook made false statements on mortgage agreements.
- Pulte's referral claims Cook declared properties in Michigan and Georgia as primary residences within a two-week period in 2021, potentially to secure better loan terms.
- Cook, the first Black woman on the central bank's board, said she would not be "bullied to step down" and intended to gather accurate information to address the allegations.
- The removal is effective immediately and occurs amidst Trump's broader criticism of the Federal Reserve's interest rate policies.
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