In a statement on 20/8, Fed governor Lisa Cook acknowledged being aware of Federal Housing Finance Agency (FHFA) director Bill Pulte's call for an investigation into her 4-year-old mortgage application, predating her time at the Federal Reserve (Fed).

Cook firmly stated she would not resign based on "questions raised on social media," seemingly addressing former president Donald Trump's call for her departure.

"I take seriously any questions about my financial history as a Fed governor. I am gathering accurate information to address all legitimate questions truthfully," Cook said.

Lisa Cook being sworn in as a Fed governor in 5/2022. Photo: AFP

Pulte had previously posted on social media, accusing Cook of claiming residency in an Atlanta apartment while simultaneously securing a mortgage for a Michigan home and designating it as her primary residence.

The FHFA director urged the US Justice Department to investigate Cook for alleged mortgage fraud. Pulte shared a portion of his letter to Attorney General Pam Bondi, citing FHFA's possession of documents related to Cook's alleged "mortgage fraud."

"Cook must resign immediately!", Trump posted on social media following Pulte's statement.

Cook was appointed to the Fed's Board of Governors by former president Joe Biden and her term is set to run until 2038. Previously, she was an economist at Michigan State University.

The Fed's Board of Governors comprises seven members appointed by the US president and confirmed by the Senate, each serving a 14-year term without the possibility of reappointment. The chair and vice-chair are also appointed by the president from among the governors and serve 4-year terms, with the option for multiple reappointments.

Ngoc Anh (According to Hill, NBC, AP)