Summary
- Fed Board Member Lisa Cook stated she will not step down despite the pressure to resign.
- President Trump's call for Cook’s resignation is interpreted as an intention to appoint a new Fed Board member who supports his desire for rate cuts.
- This situation regarding the composition of the Fed Board could impact financial policy and market outlook.
Lisa Cook, a member of the Fed Board, announced that she will not yield to the pressure to resign surrounding her.
According to Watcher Guru on the 21st (local time), Cook expressed her stance that she will not succumb to the resignation pressure from President Donald Trump.
Previously, Bill Pulte, head of the Federal Housing Administration (FHA), requested an investigation into mortgages by the Department of Justice (DOJ), stating, "There is a possibility that Lisa Cook forged bank documents and real estate records to obtain favorable loan conditions." In response, President Trump demanded Lisa Cook’s resignation from the Fed Board.
Within the industry, Trump’s resignation pressure is interpreted as an intention to appoint a new Fed board member who would align with his demands for rate cuts. Meanwhile, Lisa Cook was appointed to the Fed Board during former President Joe Biden’s term in 2022, and she is also the first woman of color to serve as a Fed Board member.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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