The surprise early resignation of former Fed Governor Adriana Kugler, another Biden pick, gives Trump an early opening to nominate someone to the central bank’s board and steer its monetary policy trajectory more toward his preferred path. He has named one of his economic aides, Stephen Miran, to fill the slot on an interim basis.

The big picture: Top housing regulator Bill Pulte is accusing Fed governor Lisa Cook of mortgage fraud. President Trump is considering firing her for cause, per The Wall Street Journal, and called for her resignation on Truth Social.

Fed governor Lisa D. Cook is being accused of mortgage fraud by Bill Pulte, who serves as Trump’s director of the Federal Housing Finance Agency.

Philadelphia Fed researchers in a 2023 report assessed the number of “fraudulent investors” in the mortgage market, which they defined as those who had more than one owner-occupied home purchase loan within four quarters after the first one was originated.

President Donald Trump on Wednesday urged Federal Reserve governor Lisa Cook to resign after a top housing regulator accused her of mortgage fraud.

The administration accused the official, Lisa Cook, of mortgage fraud and said it would refer the matter for criminal investigation.

Bill Pulte, the FHFA chief, goes after Trump’s political opponents.

Federal Housing Finance Agency (FHFA) Director Bill Pulte has continued to criticize Fed Chair Jerome Powell for keeping the federal funds rate (FFR) unchanged in 2025, this time accusing him of perpetrating long-term damage to the housing industry.