Trump Announces Official Dismissal of Federal Reserve Board Member Cook

BlockBeats News, August 26: U.S. President Trump signed a document removing Federal Reserve Board Governor Cook from office, effective immediately. Trump stated in the document: "Based on the Second Amendment of the U.S. Constitution and the amended 1913 Federal Reserve Act, I hereby dismiss Cook from the Board of the Federal Reserve System. Due to Cook's dishonest conduct in financial affairs, and potential involvement in criminal activities, I cannot have confidence in your integrity. At the very least, these actions have exposed serious negligence in your financial transactions, raising doubts about your ability and credibility as a financial regulator." (FXStreet)

Prior to this, U.S. Department of Justice officials stated that they have received a criminal investigation referral related to Federal Reserve Board Governor Cook and are treating it with high priority. Trump's staunch ally, Federal Housing Finance Agency Director Bill Pulte, wrote to Justice Department officials, implying that Federal Reserve Board Governor Cook may have committed criminal acts. According to a copy of the letter disclosed by Bloomberg, the letter accuses Cook of "forging bank documents and financial records to obtain more favorable loan terms, potentially violating criminal law by committing mortgage fraud."