Trump vs. Fed: Mortgage Fraud Drama & Rate-Setting Rodeo
In a dazzling display of bureaucratic soap opera, Trump fired Fed governor Lisa Cook on August 25, citing 'mortgage fraud' accusations from Bill Pulte, the Federal Housing Finance Agency directorâbecause nothing says financial expertise like alleged home loan hiccups. Cookâs legal team insists clerical errors, not carnage, are to blame, arguing past mortgage 'misfiles' donât mean she should get axed mid-term. Meanwhile, a federal judge ruled she can't be booted while her lawsuit simmers, sparking a frantic Trump appeal race against the ticking clock of the September 16-17 Fed meeting. All this before the Fed attempts its first interest rate cut this year, just slightly less aggressively than Trump demands. The plot thickens as bond markets remain unfazed by the Fed-Fight 2025 edition.
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If firing a Fed governor over mortgage clerical errors were a sport, Trump just scored an own goal while the bond market watches like itâs popcorn night.
Nothing says 'best boss ever' like trying to fire a Fed governor days before a rate meeting over the nebulous horror of 'clerical errors.' Management goals!
Trumpâs âmusical chairsâ game at the Fed now features lawsuits, mortgage fraud claims, and a judge saying 'not so fast!' Too bad itâs not as entertaining as Netflix.
Source: Axios | Published: 9/10/2025 | Author: Ben Berkowitz
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