WSJ What’s News Trump Considers Firing Fed Official After Allegation of Mortgage Fraud
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Aug 20, 2025 Tensions rise as the president demands the resignation of a Federal Reserve governor over mortgage fraud allegations. This controversy highlights the fraught relationship between the White House and the central bank. Meanwhile, billionaire Bill Ackman launches a new AI-powered school that eschews diversity lessons, stirring debates on education reform. Additionally, advancements in freight tracking technology are being developed to combat growing cargo theft, showcasing the intersection of innovation and security.
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Political Pressure On Fed Leadership
- The White House is pressing to remove Fed Governor Lisa Cook after FHFA head Bill Pulte alleged mortgage application inconsistencies.
- The accusation lacks broader documentary context and may be politically motivated given Pulte's critiques of the Fed.
Details And Gaps In The Mortgage Claim
- The specific allegation is that Cook listed two different properties as her primary residence within 14 days on mortgage forms.
- Bill Pulte posted signature images but provided little of the full mortgage applications or corroborating context.
FHFA Access And Possible Motive
- Bill Pulte's role overseeing Fannie Mae and Freddie Mac gives him access to housing documents but not direct Fed oversight.
- Pulte has criticized the Fed for high rates, suggesting a potential motive to target a Fed governor.