BREAKINGBREAKING,
In response to unproven allegations of mortgage fraud, United President Donald Trump has mandated the firing of Lisa Cook, the governor of the Federal Reserve.
According to his authority under the US Constitution and the 1913 Federal Reserve Act, Trump claimed in a letter posted on social media on Monday night that Cook was being fired “effectively”.
Trump cited allegations made by the US federal mortgage regulator last week, saying there was “sufficient evidence that you may have made false statements on one or more mortgage agreements.”
Trump wrote in the letter, which was shared on his platform Truth Social, that “the Federal Reserve has a lot of responsibility for setting interest rates and regulating reserve and members banks.”
The members of the Federal Reserve tasked with setting policy and overseeing it must have complete confidence in their honesty. They cannot and do not have such confidence in your integrity because of your deceitful and possibly criminal behavior in a financial situation.
If Cook, who was appointed by former president Joe Biden, didn’t resign, Trump threatened to fire her on Friday.
Trump’s extraordinary action is expected to raise more questions about the US central bank’s uncanny ability to reduce interest rates.
Federal Housing Finance Agency director Bill Pulte, a steadfast Trump ally, claimed Cook had listed two properties as her primary residence addresses in a letter sent to US Attorney General Pam Bondi and Department of Justice official Ed Martin earlier this month.
Al Jazeera contacted the Federal Reserve for comment, but they did not respond right away.
Source: Aljazeera
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