Trump Removes Fed Governor Cook Amid Criminal Referral, Raising Concerns for US Dollar Confidence and Fed Control

On August 26, President Trump signed a document removing Federal Reserve Board Governor Cook from office, effective immediately, citing concerns about integrity and financial conduct. The order referenced statutory authority and set in motion administrative steps for enforcement.

The Department of Justice has confirmed receipt of a criminal referral related to Governor Cook and stated it is treating the matter seriously. A letter from Federal Housing Finance Agency Director Bill Pulte, disclosed by Bloomberg, alleges purported document irregularities tied to loan transactions.

Governance analysts note that, if the removal is sustained through any review, the development could influence the composition and policy dynamics of the Federal Reserve; market participants and institutional stakeholders will closely monitor subsequent appointment processes.