Both the Fed and, later, Trump, when responding to the Fed statement, said they would abide by any court ruling on the matter.
Remaking the Fed
The Fed board is composed of seven members, although there is currently one empty seat due to the resignation of Adriana Kugler earlier this month. If Trump can fill that vacant seat and potentially replace Cook, it would give him a 4-3 majority of those seven. There are also five Federal Reserve Bank presidents who make up the full 12-member Federal Open Market Committee.
Bill Pulte, director of the FHFA, praised the move. He also posted his thoughts on his X account about Cook’s possible removal.
“Thank you President Trump for your commitment to stopping mortgage fraud and following the law,” Pulte said. “If you commit mortgage fraud in America, we will come after you, no matter who you are.”
US FEDERAL HOUSING STATEMENT ON THE FIRING OF LISA COOK:
Thank you President Trump for your commitment to stopping mortgage fraud and following the law. If you commit mortgage fraud in America, we will come after you, no matter who you are.
William J. Pulte
Director
— Pulte (@pulte) August 26, 2025
Jamie Cox, managing partner at Harris Financial Group, told CNBC that Cook’s removal is another step in Trump’s effort to remake the Federal Reserve.