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President Donald Trump has sought to fire Cook “for cause,"
relying on allegations that Cook claimed both the condo and
another property as her primary residence simultaneously, as he
looks to reshape the central bank to orchestrate a steep cut to
interest rates. Documents obtained by The Associated Press also
showed that on a second form submitted by Cook to gain a
security clearance, she described the property as a “second
home.”
Cook sued the Trump administration to block her firing, the
first time a president has sought to remove a member of the
seven-person board of governors. Cook secured an injunction
Tuesday that allows her to remain as a Fed governor.
The administration has appealed the ruling and asked for an
emergency ruling by Monday, just before the Fed is set to meet
and decide whether to reduce its key interest rate. Most
economists expect they will cut the rate by a quarter point.
Bill Pulte, a Trump appointee to the agency that regulates
mortgage giants Fannie Mae and Freddie Mac, has accused Cook of
signing separate documents in which she allegedly said that both
the Atlanta property and a home in Ann Arbor, Michigan, also
purchased in June 2021, were both “primary residences.” Pulte
submitted a criminal referral to the Justice Department, which
has opened an investigation.
Claiming a home as a “primary residence” can result in better
down payment and mortgage terms than if one of the homes is
classified as a vacation home.
The descriptions of Cook’s properties were first reported by
Reuters.
Fulton County tax records show Cook has never claimed a
homestead exemption on the condo, which allows someone who uses
a property as their primary residence to reduce their property
taxes, since buying it in 2021.
The White House did not immediately respond to a request for
comment.
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AP writer Jeff Amy in Atlanta contributed to this report.
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