Pray not to be arrested

Lutnick said Cook should not only leave the post he occupies in the Fed, but should “pray” not to be arrested. “The fact is that if Lisa has committed mortgage fraud, she needs to be respectful with the country at this time and leave. If she has respect for the Fed, an institution she says she cares, she should leave the position she occupies, discreetly leaves the scene and still asking God to go after her.”

Trump fired Cook through a letter published on social networks. The president stated that the dismissal was motivated by “just cause” and had “immediate effect”. He accused Lisa of fraud in real estate financing by allegedly falsifying documents to achieve favorable conditions in a real estate loan.

Lisa Cook responded to Trump’s resignation and refused to deliver the position. In a statement issued by her lawyer shortly after the president’s announcement, the director said “there was no legal reason” for her departure and stressed that Trump has no authority to fire her.

Fed Threats

Since taking office earlier this year, Trump has been manifesting disagreement with the decisions of the Fed – especially for keeping interest rates – and threatening to exchange his president, Jerome Powell. The basic American interest rate is at the level of 4.25% -4.5% per year since December 2024. It has been reduced by 5.25%- 5.5% per year to which it had arrived between mid-2023 and 2024, but has been at the highest level since 2007.

Cook was among the nine members of the Fed Monetary Policy Committee who decided on July 30 to maintain the interest rate on the current level. Two voted for the reduction and one did not attend the meeting.