“Through media reports, I learned that Federal Housing Finance Agency (FHFA) Director Bill Pulte has called for an investigation into a mortgage application I submitted four years ago, before I joined the Federal Reserve,” Governor Cook said in a statement on August 20.
Cook emphasized that she has no intention of resigning solely due to “questions raised on social media,” a remark seemingly aimed at countering Trump’s demand.
“I will take seriously any questions regarding my financial history as a Fed member. I am therefore collecting accurate information to respond to all legitimate and factual inquiries,” she added. Previously, Pulte posted on social media alleging that Cook had declared a residence in an Atlanta apartment, while earlier securing a mortgage for a home in Michigan, which he claimed was her primary residence.
The FHFA director urged the U.S. Department of Justice to investigate Cook over alleged mortgage fraud, posting part of a letter to Attorney General Pam Bondi stating that FHFA possessed documentation of her supposed misconduct.
“Cook must resign immediately!” Trump wrote on social media following Pulte’s post.
Cook was appointed as a Fed Governor under President Joe Biden and is set to serve a term until 2038. Prior to her Fed appointment, she was an economist at Michigan State University.
The Fed Board of Governors consists of seven members appointed by the U.S. president and confirmed by the Senate. Each serves a 14-year term without reappointment. The Chair and Vice Chair are selected from among the governors for four-year terms and may be reappointed multiple times.