President Trump has removed Dr. Lisa Cook from her position on the Board of Governors of the Federal Reserve, citing “sufficient cause” for immediate removal. The action, announced in a letter dated August 25, directs her departure effective immediately.
The letter references a Criminal Referral submitted on August 15, 2025, from William J. Pulte, Director of the Federal Housing Finance Agency, to U.S. Attorney General Pamela Bondi. The referral alleges Dr. Cook made false statements on multiple mortgage agreements, including signing documents claiming properties in both Michigan and Georgia would serve as her primary residence for the same period. The letter states, “It is inconceivable that you were not aware of your first commitment when making the second. It is impossible that you intended to honor both.”
President Trump emphasized the critical role of Federal Reserve members in setting interest rates and overseeing the banking system. The letter noted that confidence in the honesty and competence of regulators is essential. “In light of your deceitful and potentially criminal conduct in a financial matter, they cannot and I do not have such confidence in your integrity,” the letter reads.
The letter further states that the conduct demonstrated “gross negligence in financial transactions” and called into question Dr. Cook’s competence and trustworthiness as a financial regulator.
President Trump concluded the letter, asserting his constitutional duty to ensure the laws of the United States are faithfully executed requires her immediate removal from office.
Hunter Biden’s lawyer, Abbe Lowell, who is representing Cook, said that President Trump has no authority to remove her and pledged to file a lawsuit challenging what he called an “illegal” action.
