Trump fires Biden Fed governor for possible 'criminal conduct' — but Lisa Cook is desperate to cling to power



President Donald Trump informed Lisa Cook on Monday that her time on the Federal Reserve Board of Governors has come to an end.

The Biden-nominated governor did not handle the news well, indicating that she will challenge the president's authority to remove executive branch employees, setting the stage for a legal battle that could end up before the U.S. Supreme Court.

The president's recent successes in similar battles over removals of high-level bureaucrats and his ability to fire Federal Reserve board members "for cause" bodes poorly for Cook, who may soon also face criminal charges.

Quick background

Former President Joe Biden nominated Cook, a race-obsessed economist who served on Barack Obama's Council of Economic Advisers, to join the Federal Reserve's board of governors in January 2021.

Critics largely opposed her nomination because of her leftist worldview and her relative lack of experience.

"There's very little on Dr. Cook’s CV to suggest she knows the ins and outs of monetary policy," economics professor Alexander William Salter noted ahead of Cook's confirmation in May 2022. "During her nomination hearing on February 3, she listed one promising qualification: election to the board of the Federal Reserve Bank of Chicago. But this happened less than a month prior, on January 13 (effective January 1)! Nobody is this quick a study."

RELATED: Supreme Court sides with Trump on firing of officials from independent federal agencies

Photographer: Ting Shen/Bloomberg via Getty Images

"Professor Cook has no proven expertise in monetary economics at all, much less fighting inflation," Sen. Mitch McConnell (R-Ky.) said prior to Cook's confirmation vote. "Professor Cook is a proven partisan who has promoted left-wing conspiracy theories and called for a fellow academic to be fired because that person did not support defunding the police."

Cook ultimately squeaked through the confirmation process with the help of a tie-breaking vote from then-Vice President Kamala Harris.

Housing crisis

Earlier this month, Federal Housing Finance Agency Director William Pulte sent a criminal referral for Cook to the Justice Department.

Pulte told Attorney General Pam Bondi in an Aug. 15 letter that mortgage documents appear to indicate that Cook "has falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute."

'The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve.'

"This has included falsifying residence statuses for an Ann Arbor, Michigan-based residence and an Atlanta, Georgia-based property in order to potentially secure lower interest rates and more favorable loan terms," continued Pulte.

Two weeks after taking out a 15-year mortgage agreement for $203,000 on the Michigan property, Cook purchased a condominium in Atlanta and entered into a 30-year mortgage agreement for $540,000. According to Pulte, Biden's Fed governor allegedly listed both residences as her primary.

A CNN review of the mortgage documents found that both properties were indeed listed as Cook's principal residence.

Eviction

President Trump evidently took the allegations very seriously, noting in an Aug. 25 letter to Cook that he shared on Truth Social that "it is inconceivable that you were not aware of your first commitment when making the second. It is impossible that you intended to honor both."

"The Federal Reserve has tremendous responsibility for setting interest rates and regulating reserve and member banks," wrote Trump. "The American people must be able to have full confidence in the honesty of the members entrusted with setting policy and overseeing the Federal Reserve."

The president suggested that neither he nor the American people have confidence in Cook's integrity in light of her alleged "deceitful and potentially criminal conduct in a financial matter."

RELATED: Sean Spicer tells Glenn Beck how Biden unwittingly helped Trump fire 'anyone he wants'

Photo by Chip Somodevilla/Getty Images

Trump stated, "Pursuant to my authority under Article II of the Constitution of the United States and the Federal Reserve Act of 1912, as amended, you are hereby removed from your position on the Board of the Governors of the Federal Reserve, effective immediately."

In response to the firing — reportedly the first time a president has canned or attempted to can a sitting Federal Reserve governor — Pulte thanked Trump for his "commitment to stopping mortgage fraud and following the law."

Blaze News has reached out to the White House for comment.

The Federal Reserve declined to comment on the development.

Clinging to power

Echoing other presidential appointees who are now out of work, Cook suggested President Trump lacked the authority to give her the boot.

"President Trump purported to fire me 'for cause' when no cause exists under the law, and he has no authority to do so. I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022," said Cook in a statement obtained by Politico.

The fired Fed governor's attorney Abbe Lowell — who has also served as an attorney for pardoned felon Hunter Biden and New York Attorney General Letitia James — stated, "President Trump has taken to social media to once again ‘fire by tweet’ and once again his reflex to bully is flawed and his demands lack any proper process, basis or legal authority," adding that "we will take whatever actions are needed to prevent his attempted illegal action."

The law firm Lex Politica indicated days ahead of Trump's announcement that "President Trump clearly has authority to remove Governor Cook 'for cause,' assuming the allegations of mortgage fraud or lying on federal ethics forms are confirmed."

The Federal Reserve Act states that each member of the Fed's Board of Governors "shall hold office for a term of fourteen years from the expiration of the term of his predecessor, unless sooner removed for cause by the President."

The firm noted further that while the DOJ's investigation of Cook's alleged conduct and any charges it might bring against her "further support removal for cause ... we do not believe that an indictment is necessary before the President may remove Governor Cook 'for cause' under the Federal Reserve Act."

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Trump Calls For Fed Board Member To Resign Over Mortgage Fraud Allegations

'must resign'

Bloomberg interviewer's attempts to needle Trump backfire — and the crowd loves it



Leftist publications and the Harris campaign have tried desperately to spin President Donald Trump's Tuesday interview with the editor in chief of Bloomberg News as a botch job on the part of the Republican — calling it "disastrously bad," "rambling," "angry and unfocused," and "a total mess."

The audience members present for the exchange at the Economic Club of Chicago were evidently of a different mind, both cheering on Trump's ripostes to Bloomberg's John Micklethwait, booing the interviewer's loaded questions, and giving the president a standing ovation.

Micklethwait, who reportedly ordered his staff not to investigate Michael Bloomberg or his Democratic rivals prior to the 2020 election, attempted on several occasions to kneecap the Republican candidate but proved unsuited to the task.

In one instance, the British Bloomberg EIC tried characterizing Trump's plan to impose significant tariffs on imports and on American companies that outsource manufacturing as potentially ruinous, suggesting that it might adversely impact the economy as well as foreign powers.

Trump indicated that his tariff strategy during his first term was ramping up to major success prior to the pandemic, not only incentivizing companies to build factories in the homeland but bringing in "hundreds of billions of dollars just from China alone, and I hadn't even started yet."

'They've been wrong about everything.'

Shortly after the Republican president reiterated that tariffs serve to protect American companies and those companies that will ultimately flood into the country, Micklethwait said:

A lot of places like this, they rely — there are a lot of jobs that rely on foreigners coming here. You're going to basically stop trade with China. You're talking about 60% tariffs on that. You're talking, as you said, 100%, 200% on things you don't really like. You're also talking about 10, 20% tariffs on the rest of the world. That is going to have a serious effect on the overall economy. And yes you're going to find some people who would gain from individual tariffs. The overall effect could be massive.

Trump rejected the Bloomberg editor's premise, saying, "I agree. It's going to have a massive effect. Positive effect. It's going to be a positive, not a negative."

"I know how committed you are to this," continued Trump. "It must be hard for you to spend 25 years talking about tariffs as being negative and then have somebody explain to you that you're totally wrong."

As the audience broke into laughter, Micklethwait tried in vain to reassert himself, insinuating that 40 million jobs dependent on trade might be lost on account of the tariffs.

"You ready? John Deere. Great company. They announced about a year ago they're going to build big plants outside of the United States," said Trump. "They're going to build them in Mexico."

"That's right. I said, 'If John Deere builds those plants, they're not selling anything into the United States,'" added Trump.

Following the Bloomberg interview, the Wall Street Journal indicated John Deere has not yet axed its Mexican ambitions; however, Trump's potential re-election might prompt a rethinking of the company's extra-national focus.

Micklethwait suggested further that Trump's proposed tariffs could undermine American foreign policy, in part by upsetting allies and "dividing" the West.

"How does it help you take on China turning all of your allies against you?" asked the editor.

"Tremendously because China thinks we're a stupid country, a very stupid country. They can't believe that somebody finally got wise to them," said Trump. "Not one president charged China anything. They said, 'Oh, they are a third-world nation. They are developing.' Well, we're a developing nation, too. Take a look at Detroit. Take a look at our cities. ... We have to develop more than they do."

"Our allies have taken advantage of us more so than our enemies," continued the president, citing the European Union nations, Japan, and South Korea as countries that have benefited from other presidents' reluctance to impose tariffs.

After several unsuccessful attempts to extract concessions from Trump on the topic of tariffs, Micklethwait suggested the Republicans' promises to drop taxes will cost trillions of dollars.

"You're flooding the thing with giveaways. I was actually quite kind to you. I used $7 trillion. The upper estimate [for the cost of the promises] is $15 trillion. People like the Wall Street Journal, who's hardly a communist organization, they have criticized you on this as well," said the editor.

"What does the Wall Street Journal know?" responded Trump. "They've been wrong about everything. So have you, by the way."

Once again, the audience — apparently out of touch with the thinking of liberal bloggers — broke into laughter.

"You're trying to turn this — you're trying to turn this into debate," said Micklethwait, growing visibly flustered.

"You're wrong," replied Trump. "You've been wrong all your life on this stuff."

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Explained: Why the Fed lowering interest rates might be a BAD sign ...



When Glenn Beck first heard the news that the Federal Reserve lowered the interest rate by half a point, which is the first time it’s been lowered since 2020, his first thought was “this is election interference by the Fed.”

His second thought was that the last time the Fed did this, it didn’t lead to a positive outcome.

Recovering investment banker Carol Roth joins the show to break down the details.

“What’s really going on here, Carol?” Glenn asks.

“First of all, Glenn, I just want you to know that I am unburdened by what has been, and now the market is in terms of interest rates because we are in a rate-cutting environment,” says Roth, taking a jab at Kamala Harris.

“I think the important thing to remember is that when we talk about rate heights, rate cuts — anything the Fed’s doing — we have to keep it in context, and the backdrop is that we came out of 15 years of what's called ZIRP — zero interest rate policy — where the interest rates were at or near zero,” she continues, adding that in addition, the Fed put “$9 trillion plus on its balance sheet.”

According to Roth, there’s the potential for both good and bad with this lowered interest rate.

Starting with the potential bad, Roth says, “when you are saying that the economy is doing amazing” and then follow with “a very large cut,” it can “send a signal to say things are not going so well.”

However, “after 15 years of zero interest rate policy, it does make sense for us to get back to what's considered a neutral rate,” she says.

“Is this an inflationary move?” asks Glenn.

“So that’s the question,” says Roth. “If you think about what the neutral rate is, which is theoretical — we don't know the number — but basically it's the dividing line between policy that is restrictive and policy that is accommodative, and what we're trying to do is have the Fed have no influence in either direction. I believe that we are still in that restrictive area.”

“I don’t think that will cause inflation,” she says.

“I wouldn't be spending a dime right now on hiring, building — anything. Not a dime until I see what happens at the election,” says Glenn, adding that if Harris gets elected, he’s “battening down the hatches,” but if Trump wins, he’d be “willing to invest.”

To hear Roth’s thoughts, watch the clip above.

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Failed Trump shooter linked to feds? Ryan Routh's DARK HISTORY exposed



Thomas Crooks thankfully failed in his quest to assassinate Donald Trump, and now Ryan Routh is joining him in that failure — after a second attempt on the former president’s life.

The attempt came 14 days after Vice President Kamala Harris posted a photo of Trump on her social media that read “Donald Trump vows to be a dictator on day one,” with the caption “We won’t let him.”

“Do you think that this is not correlated? Do you think that the rhetoric from the left calling Trump Hitler, calling him an authoritarian, calling him a dictator, calling him evil, telling women that he’s trying to take over their bodies, telling LGBTQIA-identifying people that he’s trying to marginalize them and genocide them, that his policies will kill them?” Liz Wheeler of “The Liz Wheeler Show” comments.

Wheeler also notes that from what we know about Routh, he doesn’t seem to be “a babbling schizophrenic hearing voices telling him to kill Donald Trump.”

“He seems like an individual who fell for the rhetoric of the mainstream media calling Trump Hitler, feeling like he would be doing a service to humanity to take Trump out,” she explains.

Routh also reportedly had a Kamala Harris bumper stick on his truck.

“I hate to have to say this, but you are going to have to convince me that Ryan Routh is not a fed asset,” Wheeler says. “Even the Martin County Sheriff asked if this shooter was part of some conspiracy because there are so many red flags.”

One of those red flags was that he was a “lone gunman” but somehow had the knowledge of exactly where Trump would be and the time he would be there.

“How did a lone gunman know where president Trump was going to be on the fifth hole of his golf course at that specific time of day with an AK-47?” Wheeler asks. “He also has a really sketchy, weird foreign profile.”

Routh was caught with a weapon of mass destruction and promptly arrested, before being given probation.

“Imagine having a weapon of mass destruction and just getting probation,” Wheeler says, shocked.

Routh has also spent a good part of a year in Ukraine and has been using his social media to recruit fighters from all over the world to come and fight for the country.

“Are you telling me that the FBi didn’t know about this guy? The CIA didn’t know about this guy? The State Department didn’t know about this guy? If so, they’re completely useless,” Wheeler adds.


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Democrats Will Gladly Trash The Economy To Put A DEI Hire On The Federal Reserve Board

Americans cannot allow Democrats to fill the Federal Reserve with unqualified candidates armed with reckless economic theories.

Federal Reserve 'acts like firefighters' but 'they are the arsonists'



The Federal Reserve may be the central bank of the United States — but it’s a private corporation that actually has nothing to do with the federal government.

Not only is it a private corporation, but Thomas Massie believes it’s what’s causing America’s skyrocketing inflation.

“What they did during COVID is they created trillions of dollars out of thin air,” Massie explains to Glenn Beck. “Congress spent those trillions of dollars, but it’s the Fed that enables it and it’s the Fed that pulls it off.”

“The Fed acts like they’re the firefighters, but they are the arsonists,” he continues, adding, “The Fed starts out as the arsonist, then they come in and they do the firefighting by raising interest rates, and then they go in and bail out the couple of banks last year. So, they’re causing the problems that they come in and allegedly solve.”

While inflation impacts millions of Americans negatively, the Fed doesn’t care — because it’s only the rich who matter to them.

“They make sure that the rich people can survive through inflation. The poor people can’t, or even the middle class can’t,” Massie explains, telling Glenn that while the U.S. dollar is the world’s reserve currency, it may not be for long.

“No politician in any other country is going to take responsibility for their own fiscal madness. Everybody’s going to blame it on the United States because we were greedy, grotesque, and took on so much debt that we devalued the dollar, and it’s going to affect the entire world,” Glenn agrees.

This is why Massie believes it's time to end the Federal Reserve.

“They’ve been asking me, ‘What if you get rid of the Fed? What do you replace it with?’ That’s like saying if you take out a tumor, what do you replace the tumor with,” he says, adding, “The serious answer is we go back to stable currency that the government can’t manipulate.”


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THIS is Where Inflation is Coming From
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THIS is Where Inflation is Coming From

'INSANE': The Fed is TRYING TO HIDE this from you
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'INSANE': The Fed is TRYING TO HIDE this from you

Warning: New Biden policy is about to crush small businesses in 2024



A new Biden rule is about to blindside 32 million small businesses with traps that could land entrepreneurs in jail.

The Corporate Transparency Act goes into effect on January 1, 2024, and has been marketed as a way to prevent money laundering — but it suspiciously only targets the smallest of small businesses.

“What this looks like is, ‘Let’s attack the smallest business owners that we have in our economy and get them to close their doors!' That’s what it feels like to me,” Glenn Beck explains.

Former investment banker Carol Roth agrees.

“It’s part that, and it’s part a massive data collection program that nobody knows about,” Roth tells Glenn.

“If you’re a single-member LLC or if your business has an S corp, even if you don’t have employees, you’re impacted,” Roth continues, adding that those businesses will “have to register with a group that’s out of the treasury called FINSEN, which is the Financial Crimes Enforcement Network.”

However, if you’re a large business owner with at least 20 employees and $5 million in revenue, you’re exempt.

“What crappy money launderer are you that you’re not at least making $5 million?” Glenn comments, shocked.

“You’re money laundering for Doritos,” Roth laughs. “That’s what the ridiculousness of it is, the burden, the invasion of privacy, the collection of small business information.”

Meanwhile, Hunter Biden, who makes $5 million in one job, walks free.

It will cost small businesses $85 to prepare and submit the initial beneficial ownership information report.

“And if you don’t do it exactly right, a massive fine is coming your way,” Glenn says, to which Roth adds, “Not only fine, but you could also go to jail.”

The jail penalty is enforced if a small business owner does not participate.

The rule was proposed in January 2020 when Trump was still in office.

“It went to his desk, both houses voted for it, went to his desk — he vetoed it,” Glenn says.


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