In late August, Pulte accused Cook of “falsifying records to obtain more favorable terms on mortgages,” supposedly designating “both a condominium in Atlanta and a home in Ann Arbor, Mich., as her primary residence when taking out loans.” Pulte used his allegations to send a criminal referral to the Justice Department. Trump first called on Cook to resign on August 20, then on August 25 announced that he had fired her. 

According to The New York Times, the accusations and attempted firing of Cook were done “in hopes of forcing down interest rates,” as “Trump has relentlessly attacked the politically independent Fed and its members.” The Washington Post reported that some of Pulte’s supposed evidence did not even identify Cook. Cook, who has not been convicted of nor even charged with any crime as yet, sued the president in response to his attempt to fire her and called his actions “unprecedented and illegal.” 

• On September 9, a district court judge ruled that Cook can remain in her position as she fights Trump’s attempt to fire her. [The Associated Press, 9/10/25]
• On September 11, the Trump administration asked an appeals court to remove Cook from her position before the Fed’s next vote on interest rates. According to The Associated Press, “The request represents an extraordinary effort by the White House to shape the board before the Fed’s interest rate-setting committee meets,” even though it is expected to vote to cut rates. On the evening of September 15, the appeals court denied Trump’s request. [The Associated Press, 9/11/25; Twitter/X, 9/15/25]
• On September 12, Reuters reported on paperwork from Cook that “appears to counter other documentation that Cook’s critics have cited in support of their claims that she committed mortgage fraud by reporting two different homes as her primary residence, two independent real-estate experts said.” Additionally, NBC News reported that “public records in Fulton County, Georgia, … show that no tax exemptions available for a primary residence were sought by Cook.” [Reuters, 9/12/25; NBC News, 9/12/25]
• On September 15, Reuters additionally reported that “the property tax authority in Ann Arbor, Michigan, said that Federal Reserve Governor Lisa Cook hasn’t broken rules for tax breaks on a home there that Cook declared her primary residence.” The report continued: “The finding, which came in response to a Reuters request that the city review Cook’s property records, could boost Cook’s defense against efforts by the Trump administration to remove her from the Federal Reserve board.” [Reuters, 9/15/25]
• On September 5, Reuters reported that Pulte’s father and stepmother had actually “declared the same status on two homes in two different states.” In response to the reporting, Michigan tax officials revoked the Pulte family’s homestead exemption. Additionally, on September 4, ProPublica reported “at least three of Trump’s Cabinet members call multiple homes their primary residences on mortgages.” [Reuters, 9/5/25; Mother Jones, 9/6/25; ProPublica, 9/4/25]

Fox repeatedly hosted Pulte in June, July, and August to push his claims against Trump’s opponents, making it abundantly clear that the administration was weaponizing the FHFA against the president’s political foes. After the series of Pulte interviews, Fox hosts and guests continued pushing the Trump campaign against Cook.

• Fox Business anchor Maria Bartiromo said to Pulte on August 21: “We’re going to get to Lisa Cook and potential mortgage fraud in a moment, but it started with Russia collusion,” Trump’s impeachment, criminal charges, and “even January 6.” Pulte made clear during the interview that his intention was to help Trump gain control of the Fed, saying: “I believe the president has ample cause to fire” Cook. “I would be surprised if she’s not suspended by the Federal Reserve this week,” he added, calling her a “circus clown.” [Fox Business, Mornings with Maria, 8/21/25]
• On August 26, Fox News prime-time host Jesse Watters crowed about Trump’s attempted firing of Cook: “Federal Reserve Governor Lisa Cook just got D.O.G.E.’d.” Watters continued: “Cook kept voting with [Board chair Jerome Powell] to keep rates high, and there’s also allegations of mortgage fraud. The president determined he has a right to fire her with cause.” [Fox News, Jesse Watters Primetime, 8/25/25]
• On September 4, Fox Business host and former Trump economic adviser Larry Kudlow demanded that Fed Chairman Jay Powell “should suspend” Cook. Kudlow added: “Why hasn't he suspended her? That would be the classy thing​; if you're worried about ​Fed creditability and ​independence.” Guest Stephen Moore from the Heritage Foundation chimed in: “I entirely 100% agree with you that Lisa ​Cook should recuse herself from this next meeting at the ​Federal ​Reserve ​Board. You cannot have someone on the ​Federal ​Reserve ​Board who​ is — you know, she's not been found guilty, she's innocent until proven guilty ​— but how in the world when there is this evidence against her​, can she possibly ​— we know that mortgage fraud is what caused the last crisis in our economy​. ​So she should do the right thing​, and pull herself off until this is resolved​.” [Fox Business, Kudlow, 9/4/25]
• On September 11, Fox Business’ The Big Money Show endorsed Trump’s demand that an appeals court remove Cook, citing the administration’s claims of mortgage fraud. [Fox Business, The Big Money Show, 9/11/25]
• On September 12, shortly before Reuters’ report seemingly exonerated Cook, Kudlow and guest John Yoo also supported Trump’s efforts to remove her. [Fox Business, Kudlow, 9/12/25]

Meanwhile, a Fox Business correspondent admitted in late August that Trump’s effort to oust Cook is about his opportunity to have a majority of appointees on the Fed’s governing board. This coverage is apparently just the latest attempt by Fox to help Trump pressure the Fed and seize control of the power to set interest rates.

• Fox Business figures claimed the economy was strong enough to cut rates before the July jobs report, then blamed the weak jobs numbers on the Fed for not cutting rates. On July 30, host Charles Payne said: “The doom and gloom stuff out there that’s been promised by economists and Wall Street strategists, it’s not even close to happening. … Will Jay Powell be a gentleman and do what he has to do?” Later that evening, host Elizabeth MacDonald said: “The U.S. economy is zipping ahead at a better-than-expected 3% growth rate in the second quarter under Trump. … But the Federal Reserve again did not cut interest rates.” On August 1, after the release of the July jobs report showing jobs well below expectations with significant negative revisions to prior months’ estimates, Bartiromo said “Jay Powell had access” to the weak jobs numbers, so “how is it possible that he went forward and did not cut interest rates, even as he saw all of this data?” [Fox Business, Making Money, 7/30/25; The Evening Edit, 7/30/25; Mornings with Maria, 8/1/25]
• Following Trump’s July 2 demand that Powell “resign immediately,” a Fox Business panel demanded interest rate cuts again. Bartiromo bemoaned Powell’s supposed reluctance to cut rates given the uncertainty over the looming expiration of the pause on Trump’s global retaliatory tariffs, while economic analyst and guest Stephanie Pomboy suggested Powell should stop “push[ing] back on the president” and start to cut rates. Fox Business anchor Cheryl Casone joined in on the pressure, suggesting that Powell may cut rates “too late.” Another of Bartiromo’s guests, financial executive Mark Tepper, said he was hoping the BLS’ jobs report for June would be worse in order to force rate cuts. [Media Matters, 7/3/25]
• Following a better-than-expected consumer price index report from May, Fox hosts and guests joined Trump in pressuring Powell to cut interest rates. [Media Matters, 6/13/25]
• Fox Business hosts claimed a Fed rate cut in December, prior to the start of Trump’s second term, would fan inflation during the next few months. Bartiromo said “it’s only going to flame the fires more because we are expecting growth to be taking precedence next year,” while Stuart Varney warned the Fed: “You’d better not have another uptick in inflation in December, January, February, because that would be bad news.” [Media Matters, 12/11/24]
• Fox figures accused the Fed of playing politics for cutting rates in September prior to the 2024 presidential election. [Media Matters, 9/19/24]
• During the final year of the Biden administration, Trump and his Fox allies warned the Fed against cutting interest rates prior to the presidential election. On Fox, this campaign was led by Kudlow, who claimed the Fed would “politicize monetary policy” if it cut rates, and claimed the Fed would “just be creamed, reamed, destroyed” if it did so. Fox host Sean Hannity joined in, saying on August 14: “Watch the Fed. Mark my words: September, they’re going to lower rates to help Kamala and Tim Walz.” [Media Matters, 8/28/24]