Us doj to investigate Fed Reserve’s Cook, urging Powell to remove: Report | Politics News

Cook, who was accused of fraud in the mortgage, said it will not be intimidated by Trump to resign.

The US Department of Justice plans to investigate the governor of the Federal Reserve, Lisa Cook, with a senior official informing the Federal Reserve Chairman Jerome Powell to investigate and encourage him to remove it.

The Cook case said that the Cook case “requires more examination” that a letter to Powell from Ed Martin, the official of the Ministry of Justice (Doj) led similar investigations in Senator Adam Chef from California and the New York Prosecutor Littia James, “requires more examination.”

“At this time, I encourage you to remove Mrs. Cook from your painting,” Martin wrote, according to Bloomberg. “Do it today before it is too late!

The Ministry of Justice did not immediately respond to a request for comment.

When asked about the report, a Federal Reserve spokesman referred Bayan Cook on Wednesday, when she said she did not intend to “intimidate” the resignation after that. President Donald Trump called for step down On the basis of allegations made by a member of his administration about real estate loans he carried in Michigan and Georgia.

The Federal Reserve Law does not provide any authority to the President of the Federal Reserve to remove another member of the Governor.

Cook, the first black woman, is the ruler of the Federal Reserve, a 14 -year term that started after her second assertion in the Senate in 2023.

The efforts to remove Cook come as the administration launched a campaign against diversity, fairness and integration (Dei), and Trump’s continuous efforts to gain influence on the US Central Bank and push them to reduce interest rates.

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Central bankers from all over the world gathered on Thursday at the Grand Titton National Park to open the annual Jackson Hall symposium in Kansas City, where Powell will deliver a major speech on Friday, draw his view of the economy, and hope investors, as prices are heading.

“I just want to say that I know her to be a distinguished economist and a high -safety person,” said Cleveland Pet Hamac to Yahoo Finance at this event.

William Polly, director of the US Federal Housing Agency, who referred to allegations of Cook violations to the Ministry of Justice this week, said that it had arisen as part of regular investigations into mortgage fraud by his agency and was not “a charming chase.”

“Fraud of people is not new,” Bolly told Bloomberg Television. “I think it committed the mortgage fraud.” He said that public records are clearly shown, and that a special exemption should not be provided to the powerful. He said that fraud is “intuitive”.

Cook has not yet treated Bolt’s accusation, saying only in a statement on Wednesday: “I intend to ask any questions about my financial history seriously as a member of the federal reserve, so I collect accurate information to answer any legitimate questions and provide facts.”

The Federal Reserve kept fixed borrowing costs throughout the year in the range of 4.25 per cent to 4.5 percent of the anxiety that Trump’s tariff can control inflation that still exceeds the goal of the Federal Reserve 2 percent. The recently weakened labor market data-including a report that shows that job gains in the average of 35,000 May to July have increased the concern of the policy maker in the Federal Reserve that borrowing costs may be somewhat high, and financial markets are priced at the possibility of reducing the interest rate in a quarter-point category at the Federal Reserve meeting in September.

This will be much lower than the many percentage points that Trump requested.

Trump can name a new chair when Powell’s term ends in May. US Treasury Secretary Scott Beesen, who leads the research, owns nearly ten candidates, all of whom expressed their support for large price discounts and major changes in the central bank. Traditionally, the Federal Reserves are resigned when the duration of its leadership ends, but there is some speculation that Powell will remain until the period of his mandate with the end of the ruler in 2028, and Trump deprived the opportunity to install more loyalists to unify his control of the central bank.

Trump nominated the President of the Economic Advisers Stephen Miran, a federal reserve critic and an excited supporter of Trump’s definitions and other policiesTo serve at the Federal Reserve in the seat that was evacuated by the sudden resignation this month from Adriana Cogler.