Trump Demands Fed Governor Resignation Amid Mortgage Allegations

Former President Donald Trump has intensified his push to gain influence over the Federal Reserve by calling for the resignation of Governor Lisa Cook. Trump's call is based on allegations made by an ally regarding Cook's mortgage declarations in Michigan and Georgia.

U.S. Federal Housing Finance Agency Director Bill Pulte accused Cook of designating two properties as primary residences, which could have allowed her to secure better loan terms. The allegations pertain to loans issued in 2021, before her appointment by President Joe Biden to the Fed board.

Trump has often criticized the Fed, calling for lower benchmark interest rates. With several Biden appointees on the board, including Cook, Trump's efforts to reshape the central bank have been hindered. Trump hopes to fill vacancies and influence policy through appointments and nominations in the coming years.

(With inputs from agencies.)