'Ridiculous': Trump's 'illegal' firing of Fed governor blasted as an 'autocrat move'
TRUMP THREATENS TO SEND HER TO UGANDA
Carl Gibson
August 25, 2025
ALTERNET
On Monday, President Donald Trump announced on social media that he was firing Lisa Cook from the Federal Reserve Board of Governors (who was appointed by former President Joe Biden in 2022). But multiple journalists, elected officials, commentators and legal experts are pointing out that Trump is overstepping the bounds of his authority.
In a letter Trump posted to his Truth Social account, he cited the Federal Reserve Act and Article II of the U.S. Constitution to claim that he had the authority to remove Cook from her position "for cause." In order to justify the firing, Trump noted that Federal Housing Finance Authority head Bill Pulte had sent a criminal referral to the Department of Justice for alleged mortgage fraud, relating to two of Cook's mortgage applications.
"At a minimum, the conduct at issue exhibits the sort of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator," Trump wrote in the letter.
READ MORE: 'Frog in boiling water': Nicolle Wallace says Trump plunging US into 'authoritarianism'
According to CNN, Cook listed a home in Ann Arbor, Michigan as her primary residence in one mortgage document, and then listed a condominium in Atlanta, Georgia as her primary residence on another mortgage document just weeks later. Because a primary residence has certain tax benefits, Cook is being investigated for potential mortgage fraud by listing two primary residences. However, she has yet to be charged with any crime, and even if she were charged, a conviction is unlikely as prosecutors would have to prove actual malice, whereas Cook could argue the listing of two primary residences was a simple oversight.
Trump's claim that he is firing Cook due to the mortgage application issue didn't hold water with several journalists, commentators and others who weighed in on social media. Rep. Seth Magaziner (D-R.I.) tweeted Cook has not been convicted of any crime, and that a president could only fire a Fed governor under "extreme circumstances." Economist Dean Baker questioned the president's authority. noting Trump couldn't fire Cook any more than Baker could fire Cook. Pennsylvania-based political activist Rowan Gehman called Trump's attempted firing of cook "very f------ illegal." Ron Filiipkowski of the liberal group MeidasTouch blasted Trump's attempted firing of cook as an "autocrat move to take over the Fed." And Attorney John Aravosis argued Trump committed a significant error of his own when he wrote in the letter that Cook "may have made false statements on one or more mortgage agreements."
"May have made? Doesn’t sound terribly convincing when you’re hedging," Aravosis wrote.
"Trump cannot legally make up cause to fire a Fed Governor," tweeted Aaron Fritschner, who is the deputy chief of staff for Rep. Don Beyer (D-Va.) "The current Supreme Court held earlier this year that the Fed is a 'quasi-private entity' whose members are protected from political interference, which is plainly what Trump is doing here on a ridiculous pretext."
In a letter Trump posted to his Truth Social account, he cited the Federal Reserve Act and Article II of the U.S. Constitution to claim that he had the authority to remove Cook from her position "for cause." In order to justify the firing, Trump noted that Federal Housing Finance Authority head Bill Pulte had sent a criminal referral to the Department of Justice for alleged mortgage fraud, relating to two of Cook's mortgage applications.
"At a minimum, the conduct at issue exhibits the sort of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator," Trump wrote in the letter.
READ MORE: 'Frog in boiling water': Nicolle Wallace says Trump plunging US into 'authoritarianism'
According to CNN, Cook listed a home in Ann Arbor, Michigan as her primary residence in one mortgage document, and then listed a condominium in Atlanta, Georgia as her primary residence on another mortgage document just weeks later. Because a primary residence has certain tax benefits, Cook is being investigated for potential mortgage fraud by listing two primary residences. However, she has yet to be charged with any crime, and even if she were charged, a conviction is unlikely as prosecutors would have to prove actual malice, whereas Cook could argue the listing of two primary residences was a simple oversight.
Trump's claim that he is firing Cook due to the mortgage application issue didn't hold water with several journalists, commentators and others who weighed in on social media. Rep. Seth Magaziner (D-R.I.) tweeted Cook has not been convicted of any crime, and that a president could only fire a Fed governor under "extreme circumstances." Economist Dean Baker questioned the president's authority. noting Trump couldn't fire Cook any more than Baker could fire Cook. Pennsylvania-based political activist Rowan Gehman called Trump's attempted firing of cook "very f------ illegal." Ron Filiipkowski of the liberal group MeidasTouch blasted Trump's attempted firing of cook as an "autocrat move to take over the Fed." And Attorney John Aravosis argued Trump committed a significant error of his own when he wrote in the letter that Cook "may have made false statements on one or more mortgage agreements."
"May have made? Doesn’t sound terribly convincing when you’re hedging," Aravosis wrote.
"Trump cannot legally make up cause to fire a Fed Governor," tweeted Aaron Fritschner, who is the deputy chief of staff for Rep. Don Beyer (D-Va.) "The current Supreme Court held earlier this year that the Fed is a 'quasi-private entity' whose members are protected from political interference, which is plainly what Trump is doing here on a ridiculous pretext."
'Nobody is safe': Paul Krugman reveals the real motive behind Trump’s war on Fed governor
Matthew Chapman
August 25, 2025
Trump blasted over 'blatantly unconstitutional' Federal Reserve ouster: 'Autocrat move'
Robert Davis
August 25, 2025
RAW STORY
U.S. President Donald Trump and British Prime Minister Keir Starmer arrive by helicopter at Trump International Golf Links, in Aberdeen, Scotland, Britain, July 28, 2025. Jane Barlow/Pool via REUTERS
President Donald Trump's decision to fire a Federal Reserve governor on Monday sparked outrage online.
Trump posted on Truth Social that he is firing Governor Lisa Cook, the only Black woman to ever serve as a Federal Reserve governor, because his administration alleged she committed mortgage fraud.
"There is sufficient evidence to believe that you submitted false information on one or more mortgage applications," reads a letter Trump shared on Truth Social announcing Cook's firing.
Cook was thrust into the spotlight recently after Trump's Justice Department accused her of committing mortgage fraud. She has denied all wrongdoing.
Several analysts shared their thoughts about the move on social media.
"Trump makes his autocrat move to take over the Fed," journalist Ron Filipkowski posted on Bluesky. "Hopefully she will challenge this in court."
"Yes, the stakes are large. Very large," University of Michigan economist Justin Wolfers wrote in a post on X, sharing a graph of inflation under Turkish President Recep Tayyip Erdoğan after he fired the country's central bank authorities.
"This is exactly how you lose your country," Spencer Hakimian, founder of Tolou Capital Management, posted on X.
"Trump knows he’s tanking the economy, and he’s looking to blame everyone other than himself," Democratic Wins Media posted on X.
Democrat influencer Harry Sisson described Cook's firing on X as "blatantly unconstitutional and authoritarian."
"This should be challenged in court ASAP!" Sisson added.
Matthew Chapman
August 25, 2025
RAW STOR
FILE PHOTO: Lisa Cook testifies before a Senate Banking Committee hearing on her nomination to be a member of the Federal Reserve Board of Governors (for a second term), on Capitol Hill in Washington, U.S., June 21, 2023. REUTERS/Jonathan Ernst/File Photo
President Donald Trump's threats to fire Federal Reserve governor Lisa Cook are proof that "nobody is safe" from the new era of "weaponized government," Nobel Prize-winning economist turned political pundit Paul Krugman wrote for his Substack on Monday.
This follows Trump's housing finance chief, Bill Pulte, leveling an unsubstantiated "mortgage fraud" claim against Cook, who happens to be one of the Fed officials who opposed Trump's demanded rate cuts.
"I am not going to lead with a discussion of what Cook may or may not have done," wrote Krugman. "That would be playing Trump’s game. Clearly, he’s just looking for a pretext to fire someone who isn’t a loyalist — and who happens, surprise, to be a black woman. If you write about politics and imagine that Trump cares about mortgage fraud — or for that matter believe anything Trump officials say about the affair without independent confirmation — you should find a different profession. Maybe you should go into agricultural field work, to help offset the labor shortages created by Trump’s deportations."
In truth, he wrote, "You should think about the attack on Cook in the same context as mortgage fraud accusations made against California Senator Adam Schiff and New York Attorney General Letitia James. Or you should look at the attacks on Jerome Powell, the Federal Reserve chair, over the cost of renovations at the Fed’s headquarters. Or the still mysterious raid on the house of John Bolton, who at one time was Trump’s national security adviser." In reality, he argued, Trump doesn't care at all about fraud, which he has been found liable for himself — the real message is, “If you get in our way we will ruin your life.”
More generally, Krugman warned, "What we’re witnessing is the authoritarian playbook in action. Tyrannies don’t always get their way by establishing a secret police force that arrests people at will — although we’re getting that too. Much of their power comes not from overt violence but from their ability to threaten people’s careers and livelihoods, up to and including trumped-up accusations of criminal behavior."
It remains to be seen whether any criminal charges will actually materialize for Cook, Krugman wrote — mortgage fraud actually is common, but rarely prosecuted and requires proof that someone purposely falsified records.
But that's not the point, he concluded. The point is, "we are all Lisa Cook. You may imagine that your legal and financial history is so blameless that there’s no way MAGA can come after you. If you believe that, you’re living in a fantasy world. Criticize them or get in their way, and you will become a target."
FILE PHOTO: Lisa Cook testifies before a Senate Banking Committee hearing on her nomination to be a member of the Federal Reserve Board of Governors (for a second term), on Capitol Hill in Washington, U.S., June 21, 2023. REUTERS/Jonathan Ernst/File Photo
President Donald Trump's threats to fire Federal Reserve governor Lisa Cook are proof that "nobody is safe" from the new era of "weaponized government," Nobel Prize-winning economist turned political pundit Paul Krugman wrote for his Substack on Monday.
This follows Trump's housing finance chief, Bill Pulte, leveling an unsubstantiated "mortgage fraud" claim against Cook, who happens to be one of the Fed officials who opposed Trump's demanded rate cuts.
"I am not going to lead with a discussion of what Cook may or may not have done," wrote Krugman. "That would be playing Trump’s game. Clearly, he’s just looking for a pretext to fire someone who isn’t a loyalist — and who happens, surprise, to be a black woman. If you write about politics and imagine that Trump cares about mortgage fraud — or for that matter believe anything Trump officials say about the affair without independent confirmation — you should find a different profession. Maybe you should go into agricultural field work, to help offset the labor shortages created by Trump’s deportations."
In truth, he wrote, "You should think about the attack on Cook in the same context as mortgage fraud accusations made against California Senator Adam Schiff and New York Attorney General Letitia James. Or you should look at the attacks on Jerome Powell, the Federal Reserve chair, over the cost of renovations at the Fed’s headquarters. Or the still mysterious raid on the house of John Bolton, who at one time was Trump’s national security adviser." In reality, he argued, Trump doesn't care at all about fraud, which he has been found liable for himself — the real message is, “If you get in our way we will ruin your life.”
More generally, Krugman warned, "What we’re witnessing is the authoritarian playbook in action. Tyrannies don’t always get their way by establishing a secret police force that arrests people at will — although we’re getting that too. Much of their power comes not from overt violence but from their ability to threaten people’s careers and livelihoods, up to and including trumped-up accusations of criminal behavior."
It remains to be seen whether any criminal charges will actually materialize for Cook, Krugman wrote — mortgage fraud actually is common, but rarely prosecuted and requires proof that someone purposely falsified records.
But that's not the point, he concluded. The point is, "we are all Lisa Cook. You may imagine that your legal and financial history is so blameless that there’s no way MAGA can come after you. If you believe that, you’re living in a fantasy world. Criticize them or get in their way, and you will become a target."
Trump blasted over 'blatantly unconstitutional' Federal Reserve ouster: 'Autocrat move'
Robert Davis
August 25, 2025
RAW STORY
U.S. President Donald Trump and British Prime Minister Keir Starmer arrive by helicopter at Trump International Golf Links, in Aberdeen, Scotland, Britain, July 28, 2025. Jane Barlow/Pool via REUTERS
President Donald Trump's decision to fire a Federal Reserve governor on Monday sparked outrage online.
Trump posted on Truth Social that he is firing Governor Lisa Cook, the only Black woman to ever serve as a Federal Reserve governor, because his administration alleged she committed mortgage fraud.
"There is sufficient evidence to believe that you submitted false information on one or more mortgage applications," reads a letter Trump shared on Truth Social announcing Cook's firing.
Cook was thrust into the spotlight recently after Trump's Justice Department accused her of committing mortgage fraud. She has denied all wrongdoing.
Several analysts shared their thoughts about the move on social media.
"Trump makes his autocrat move to take over the Fed," journalist Ron Filipkowski posted on Bluesky. "Hopefully she will challenge this in court."
"Yes, the stakes are large. Very large," University of Michigan economist Justin Wolfers wrote in a post on X, sharing a graph of inflation under Turkish President Recep Tayyip Erdoğan after he fired the country's central bank authorities.
"This is exactly how you lose your country," Spencer Hakimian, founder of Tolou Capital Management, posted on X.
"Trump knows he’s tanking the economy, and he’s looking to blame everyone other than himself," Democratic Wins Media posted on X.
Democrat influencer Harry Sisson described Cook's firing on X as "blatantly unconstitutional and authoritarian."
"This should be challenged in court ASAP!" Sisson added.
Daniel Hampton
August 25, 2025
August 25, 2025
RAW STORY
(Screengrab via MSNBC)
A legal expert lost his cool on MSNBC on Monday night after President Donald Trump announced he fired Federal Reserve Governor Lisa Cook, effective immediately, citing mortgage fraud allegations from his administration.
Norm Eisen, the founder and chair of the Democracy Defenders Fund, joined "The Weeknight" to discuss Cook's firing, a historic and unprecedented move that is expected to trigger court challenges, as Federal Reserve governors can only be removed “for cause."
Cook previously denied wrongdoing and said she had no intention of resigning.\
MSNBC host Michael Steele, former chair of the Republican National Committee, noted Trump's decision to "summarily fire a Fed board member" comes in the "face of the fact that this body relates its history back to the early days of the founding of this country."
"Alexander Hamilton, Mr. President, you may recall him ... very bright lines were drawn with respect to the banking relationship between the Reserve and the government," said Steele.
Eisen said this firing was unlike other cases pending final disposition at his organization.
"We’re litigating some of them about the extent of the president’s firing power. And the Supreme Court said so in the Gwynne Wilcox case that the Fed is different," he emphasized, referring to a major legal battle over Trump's attempt to oust a member of the National Labor Relations Board without showing cause.
Eisen attacked the president in a fiery takedown.
"But Donald Trump doesn’t care about the Constitution! He doesn’t care that Congress has said you can only fire somebody for cause! He doesn’t care that he has no cause here!" he exclaimed.
Eisen asserted Cook's firing was based on a social media post by one of his "most-sharp partisans," Bill Pulte, head of the Federal Housing Finance Agency.
"This is irrelevant to him. You have somebody in the White House who himself is a convicted felon. Thirty-four counts. No wonder the federal courts have shot him down 200 times for illegal actions. This is another one," Eisen continued.
Eisen then asked Steele to hand over his copy of Trump's letter to Cook announcing her termination.
"And you know what? Remember — can I have that letter? This is Donald Trump’s letter," he said. "Do you know what Lisa Cook should do? What Nancy Pelosi did. She should tear that letter."
Eisen tore the letter in half and handed it back to Steele.
"Now you’ll need to tape it for the rest of the segment," he concluded.
Watch the clip here or at this link.
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