Fed's Cook intends to fight allegations by Trump team
Federal Reserve (Fed) Board of Governor member Lisa Cook responded late Wednesday to accusations from people within the Trump administration, including President Trump himself, who accused the Fed policymaker of violating financial regulations around mortgage filings. US Prresident Donald Trump called for Lisa Cook to resign from her post at the Fed immediately, a telltale sign that Trump is likely looking to replace more Fed members with voteholders who will be more acquiescent toward steep, and early, rate cuts, regardless of economic conditions.
Key highlights
Cook is gathering accurate information to provide facts.
Has no intention of being pressured to step down.
Will take questions on financial history seriously.
Will to answer any legitimate questions and provide facts.
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