Justice Department pressures Fed Chair Powell to remove Governor Lisa Cook amid fraud allegations

btccSquare News: The U.S. Department of Justice is putting pressure on the Federal Reserve leadership, with senior judicial officials demanding the removal of Board Member Lisa Cook. Special Prosecutor Ed Martin cited mortgage fraud allegations related to property declarations in Michigan and Atlanta in 2021, claiming Cook misreported her primary residence. The Federal Reserve maintains institutional independence—Powell has no unilateral right to dismiss board members—but this public condemnation has created unprecedented scrutiny pressure. Cook maintains a tough stance, rejecting calls for resignation as an overreaction. She stated: "I will not be bullied by Twitter speculation," and described the controversy as artificially manufactured. Market observers noted that the timing coincides with sensitive policy debates about interest rate cuts, although the allegations do not directly involve cryptocurrency impacts.