U.S. President Donald Trump on Wednesday called for Federal Reserve Governor Lisa Cook to resign.

“Cook must resign, now!!!!” he wrote in a post on Truth Social, citing a Bloomberg report from Tuesday. The report said the director of the Federal Housing Finance Agency has urged Attorney General Pam Bondi to investigate Federal Reserve Governor Lisa Cook over two mortgages.

The report said the letter by FHFA Director Bill Pulte, who is also an ally of Trump, alleged that Cook “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.”

This is not the first time that the Trump administration has gone after high-profile Democrats over mortgage fraud allegations. Other names include California Senator Adam Schiff and New York Attorney General Letitia James. 

Trump’s call for Cook’s resignation comes amid his pressuring the central bank to lower interest rates and repeatedly name-calling the Fed Chair Jerome Powell for being ‘Too Late.’

At the time of writing, no charges have been filed against Cook, nor is there any confirmation around whether Bondi will investigate the Fed Governor. If Cook were to resign, it would create another opportunity for Trump to appoint a candidate of his choosing to the Federal Reserve’s board.

Earlier this month, the President announced that he would be nominating Council of Economic Advisers Chairman Stephen Miran to fill the open governor role at the Federal Reserve until the term expires in January.  

While Trump has backtracked on comments asking Powell to resign, he has explicitly mentioned that the Fed Chair’s successor will be someone who agrees that rates should come down. U.S. Treasury Secretary Scott Bessent confirmed on Tuesday that he’s currently narrowing down the list of potential candidates from 11 to present to Trump.

U.S. markets appeared set for a weak opening on Monday. The SPDR S&P 500 ETF (SPY) fell 0.11% in pre-market trade, the Nasdaq-100 Invesco QQQ Trust (QQQ) slipped 0.23% and the SPDR Dow Jones Industrial Average ETF (DIA) was down 0.01%. On Stocktwits, retail sentiment around the S&P 500 ETF slipped into ‘bearish’ territory from ‘neutral’ over the past day.  

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