Who needs the Fed's lower interest rates to buy a house when all you need to do is make fake claims about primary residences to get the same benefit?
So it appears now that President Trump has given the boot to Federal Reserve Board of Governors board member Lisa Cook.
According to Yahoo! Finance:
President Trump said late Monday he removed Federal Reserve Governor Lisa Cook from her post, following through on a threat to oust her if she refused to resign. The decision comes after members of his administration alleged Cook engaged in mortgage fraud related to the purchase of two properties earlier this decade.
"You are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately," the president wrote in a letter addressed to Cook and shared on social media. "I have determined there is sufficient cause to remove you from your position."
In a statement, Cook said Trump has no authority to fire her and that she would not quit.
"President Trump purported to fire me 'for cause' when no cause exists under the law, and he has no authority to do so," Cook said in a statement released by her attorney, Abbe Lowell. “I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022."
That's exactly where the problem is. She's been a lousy Federal Reserve board member, going along with the money-printing that did so much for Joe Biden's spending power, leaving the hangover of Bidenflation for the rest of us, which can only be cured by raising interest rates sharply. Need to buy a home? Not on her watch, the interest rates are prohibitive.
She's one of the people who brought us Bidenflation, based on a desire to support Biden's presidency and its nonstop government spending. And the resulting higher interest rates that followed for new homebuyers.
But:
Lisa Cook wouldn’t cut interest rates to help Americans afford mortgages as she was lying about her our mortgages.
— C3 (@C_3C_3) August 26, 2025
Think about that…
The “elites” have their own rules.
What did Jerome Powell know and when did he know it? pic.twitter.com/QtP0nS9txP
Lisa Cook's mortgage fraud looks so much worse when you understand that she locked in low interest rates under fraud before voting 9 times to raise rates on American 4.5 real percentage points.
— PatriotDadEV2.0 (@Patriotdadev77) August 21, 2025
Here's the cost of Democrat oligarch corruption... pic.twitter.com/cOu3IVM4cN
It's galling that they keep saying that Fed independence is threatened by this move, as if this person and quite a few of the others on the Fed board are anything but independent of Democrats. Their political donations, overwhelmingtly to Democrats, tell the story.
What's more, firing someone for cause is hardly a threat to Fed independence.
Lisa Cook obtained separate $203k & 550k mortgages for a MI & GA property, claiming both as a principal residence. She then rented them out and omitted the income from disclosures. She secured lower rates through false statements.
— Jordan Schachtel (@JordanSchachtel) August 26, 2025
Fraudster.
POTUS had every right to can her. https://t.co/lMeTfAhZZ7
June 18, 2021, Lisa Cook purchased a home in Michigan
— Apple Lamps (@lamps_apple) August 26, 2025
2 weeks later...
July 2, 2021, Lisa Cook purchases a condo in Georgia
She listed both as her primary residence. FRAUD!
NO ONE IS ABOVE THE LAW! pic.twitter.com/Y61DzEGDfF
How does getting rid of someone involved in that compromise Fed independence unless one thinks Fed officials dont have to live by the same rules the rest of us do? In the private sector, this would not be tolerated. In any financial or bank setting, where officials are supposed to know the rules better than anyone else, it especially would not be tolerated; they don't tolerate rubes.
It doesn't help that she has been credibily accused of plagiarism in academic settings, either.
Federal Reserve Governor Lisa Cook—who was just referred to the DOJ for alleged mortgage fraud—was caught in 2024 by Chris Rufo for plagiarizing her “academic research” on how popular certain names were in the black community.
— James Fishback (@j_fishback) August 20, 2025
She plagiarized her “research” and then plagiarized… https://t.co/jZJnTJTfMb
The Fed in fact has gotten pretty arrogant and lawless, with Fed official after Fed official being asked to resign over skeevy stock trades. Here is one list and it is not comprehensive:
2021: Dallas Fed president Kaplan busted for suspicious stock trades, resigns
— zerohedge (@zerohedge) August 26, 2025
2021: Boston Fed president Rosengren busted for suspicious stock trades, resigns
2022: Fed vice chair Richard Clarida busted for suspicious trades, resigns
2025: Lisa Cook vows to stay on
Hosing that agency out is one of the few things that might make it independent. Trump getting rid of her and putting in someone who understands monetary policy is a good thing. Good riddance.
Image: X screen shot