SHOCKING FED FIRED: – Could Powell Be Next in the Crosshairs?

In a groundbreaking move, President Donald Trump fired Federal Reserve Governor Lisa Cook, citing alleged mortgage fraud where she claimed primary residences in both Michigan and Georgia to secure better loan terms, as detailed in a criminal referral by Federal Housing Finance Agency Director Bill Pulte. Cook, the first Black woman on the Fed board appointed by Biden in 2022, defiantly refused to resign, stating Trump lacks authority under the Federal Reserve Act, which allows removal only "for cause" like malfeasance. This unprecedented action—the first presidential firing of a Fed official in 111 years—could escalate to the Supreme Court, testing the central bank's independence amid Trump's push for lower interest rates. Implications extend to Chair Jerome Powell, whose term ends in 2026; a successful firing might enable Trump to reshape the board majority, chill Fed autonomy, and influence monetary policy. Explore the full drama, legal battles, and economic fallout in this Federal Reserve scandal.

You will hear that the Federal Reserve is an independent body and you will hear about the Federal Reserve Act of 1913. We have to ask what Trump is trying to do in the firing of Lisa Cook, one of the Federal Reserve governors. Adam Schiff is looking at some of the possible same charges that Lisa Cook is looking at. The Federal Reserve is run by a board of governors. The one thing that President Trump is doing is pushing the Supreme Court to make decisions on many issues. The White House lawyers all know what they are doing when they are pushing the Supreme Court to review and rule on something. Lisa Cook signed a document in Michigan saying that the home would be her primary residence and 2 weeks later a Georgia residence would be her primary residence. Was she hoping that the claim to residence would not be detected digitally? Federal reserve governor ignites historic showdown as she refuses to leave her post after Trump becomes first president to fire a central bank official in 111 years. When you claim a residence as a primary residence, you have different tax structures, insurance and mortgage rates are all different. The primary residence is also where you vote. There is a lot here where the average Joe would get in a lot of trouble. Cook's firing comes after Federal Housing Finance Agency Director Bill Pulte accuses the Federal Reserve board member of falsifying bank documents and property records to secure better loan terms, in a criminal referral sent to AG Pam Bondi last week. Cook is not leaving because they don’t have cause, stating the Constitution says they have to have cause. If Trump can successfully fire Lisa Cook, if the court upholds his cause would he be able to fire Jerome Powell. Could Lisa Cook's position be the person he would want to elevate to Fed chair? Many are asking if this could put a “chill” on the Federal Reserve's independence. Industries react based on how the Fed feels. All morning long Trump can only fire “for cause”. The Federal Reserve Act provides that a governor may be removed at the President’s discretion, for cause. Trump has determined that there is sufficient cause to remove her from the position.” This is much larger than Lisa Cook. We have to watch what will happen. It will go to the Supreme Court, is this pushing Jerome Powell.