Lisa Cook of Fed claimed the second residence as “Holiday Home”: NPR

Washington – The governor of the federal reserve, Lisa Cook, referred to a condominium that she bought in June 2021 as an “holiday home” in an estimate of the loan, a characterization which could undermine complaints by the Trump administration according to which she committed mortgage fraud.

President Donald Trump sought to shoot Cook “due”, based on allegations that Cook claimed the condo and another property like his main residence, while he seeks to reshape the Central Bank to orchestrate an abrupt drop in interest rates. The documents obtained by the Associated Press also showed that on a second form submitted by Cook to obtain a security authorization, it described the property as a “second home”.

Cook continued the Trump administration to block its dismissal, the first time that a president sought to withdraw a member of the Council of Governors of seven people. Cook obtained an injunction on Tuesday which allows him to stay as the governor of the Fed.

The administration appealed the decision and asked for an emergency decision on Monday, just before the Fed met and decides to reduce its key interest rate. Most economists expect them to reduce the level of a quarter.

Bill Pulte, appointed by Trump to the agency who regulates mortgage giants Fannie Mae and Freddie Mac, accused Cook of having signed separate documents in which she would have declared that the property of Atlanta and a house in Ann Arbor, Michigan, also bought in June 2021, were both “primary residences”. Pulte submitted a criminal reference to the Ministry of Justice, which opened an investigation.

The complaint of a house as a “main residence” can lead to a better deposit and mortgage conditions than if one of the houses is classified as a holiday home.

The descriptions of cook properties were first reported by Reuters.

Fulton County tax files show that Cook has never claimed any family ownership on the condo, which allows a person who has used property as a main residence to reduce their land taxes since the purchase in 2021.

The White House did not immediately respond to a request for comments.