"Cook must resign immediately," former US President Donald Trump posted on social media today, referring to Lisa Cook, one of the 7 members of the Federal Reserve Board of Governors.

Trump's comment followed a social media post by Federal Housing Finance Agency (FHFA) Director Bill Pulte, who accused Cook of claiming residency in an Atlanta apartment while simultaneously having a mortgage on a Michigan home, which she declared as her primary residence.

Governor Lisa Cook at a Fed meeting in Washington on 25/6. Photo: AFP

Pulte called for a Justice Department investigation into Cook on allegations of mortgage fraud. He shared part of a letter sent to Attorney General Pam Bondi, stating that the FHFA possesses documentation of Cook's "mortgage fraud."

"She needs to resign because what she did is grounds for dismissal," he wrote in another post.

Cook has not commented on Trump's call for her resignation. Appointed by President Biden, her term is set to expire in 2038. Prior to her appointment, she was an economist at Michigan State University.

Trump has repeatedly criticized the Fed and Chair Jerome Powell over interest rates, urging the agency to implement significant rate cuts. He also considered dismissing Powell as part of an effort to reshape the US monetary policy body.

Earlier this month, Trump appointed Chair of the Council of Economic Advisers, Stephen Miran, to the Federal Reserve Board of Governors, replacing Governor Adriana Kugler, who resigned.

Thuy Lam (According to Reuters)