Cook revealed the information in a statement late Monday night, hours after Trump announced his intention to fire Cook. Nevertheless, she refused to resign from her job, claiming that the president lacked the “authority” to remove her.

“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook said in a statement. “I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022.”

In a letter to Cook, Trump asserted that the Federal Reserve Act allows him to remove her at his discretion.“As set forth in the Criminal Referral dated August 15, 2025, from Mr. William J. Pulte, Director of the Federal Housing Finance Agency, to Ms. Pamela Bondi, Attorney General of the United States…there is sufficient reason to believe you may have made false statements on one or more mortgage agreements,” Trump wrote. “For example, as detailed in the Criminal Referral, you signed one document attesting that a property in Michigan would be your primary residence for the next year.

“Two weeks later, you signed another document for a property in Georgia stating that it would be your primary residence for the next year,” Trump continued. “It is inconceivable that you were not aware of your first commitment when making the second. It is impossible that you intended to honor both.”

Trump wrote that the Federal Reserve has a “tremendous responsibility” to set interest rates and regulate banks.

He added that Americans must have full confidence in the honesty of those setting policy and overseeing the Federal Reserve.“In light of your deceitful and potentially criminal conduct in a financial matter, they cannot, and I do not have such confidence in your integrity,” Trump wrote. “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.”