by Sharelle B. McNair
September 2, 2025
There has never been a ruling from the courts on what ’cause’ actually means until these allegations against Cook.
Rep. Ro Khanna (D-CA) urged Federal Reserve board member Lisa Cook to release mortgage documentation amid fraud allegations from the Trump administration, which called for her to be fired and replaced with a MAGA loyalist.
During an interview on NBC News’s Meet the Press, host Kristen Welker questioned Khanna on whether Cook should release the documents to quiet the allegations.
“She should be transparent, but this has nothing to do with the specifics of Lisa Cook; this has to do with Donald Trump following Richard Nixon’s playbook to interfere with the Fed,” Khanna said. “The irony is it’s his own policies that have created the situation.”
Cook, appointed by former President Joe Biden, was publicly accused of mortgage fraud by the director of the Federal Housing Finance Agency (FHFA), Bill Pulte, who alleged she claimed two homes as her primary residence in effort to secure more favorable mortgage rates, and later received investment income by listing one of the properties as a rental.
Under the Federal Reserve Act, the president can only remove members of the governing board “for cause.” Pulte insisted the fraud allegations are just that.
According to USA Today, there has never been a ruling from the courts on what “cause” actually means until these new allegations. The decision on whether Cook can keep her job while the courts consider if her termination was legal is in the hands of a federal judge.
Khanna said the attacks on Cook are just another way of Trump “hiding an economic record” that in his opinion, he shouldn’t be proud of.
“This is a record of economic failure, and the reason it is failing is because of blanket tariffs, because of mass deportation, including immigrants who are paying taxes, and because of interference with the Fed and expertise,” Khanna said. “It’s time for a new economic direction.”
On social media, users encouraged Cook to do the opposite of what Khanna recommended—especially since the board member is suing the Trump administration over the claims. “No…she is going to court…Pulte needs to explain himself, under oath…he is the accuser…,” @peggy_gabour wrote on X.
Others used previous accusations from Trump, like alleging former President Barack Obama wasn’t born in America, to touch on reasons why Cook should let everything unfold in court. “No, she shouldn’t. She’s taking him to court. Why does a Black woman have to do backflips to appease racist MAGA Republicans? F*CK them all, don’t release sh*t,” @mgenius15636 said.
“These are the types of crimes Trump commits, so he thinks everyone else is doing it too.”
In her lawsuit against the president, Cook said the allegations don’t meet the legal requirements to terminate her. “President Trump does not have the power to unilaterally redefine ‘cause’—completely unmoored to caselaw, history, and tradition—and conclude, without evidence, that he has found it,” the suit reads.
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