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Cook Mortgage "Fraudgate" Counterattack: Trump Uses Knife to Steal the Federal Reserve? Supreme Court decisive battle in January!

Wonderful introduction:

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Hello everyone, today XM Forex will bring you "[XM Foreign Exchange Market Analysis]: Cook Mortgage "Fraudgate" counterattack: Trump uses a knife to seize the Federal Reserve? The Supreme Court will decide in January!". Hope this helps you! The original content is as follows:

In the ever-changing U.S. political arena, a dispute surrounding Federal Reserve Board Governor Lisa Cook’s mortgage application erupted like a volcano, involving President Trump, White House allies, the Department of Justice, and the Supreme Court. This is not just an ordinary personal financial dispute, but also regarded as the Trump administration's most violent attack on the independence of the Federal Reserve. Cook's lawyer issued a blockbuster defense letter for the first time on Monday (November 17), breaking down the accusations point by point and denounced his opponents for "quoting them out of context" and "political witch hunting." This turmoil began to ferment in August 2025, and has now evolved into a constitutional-level power game, affecting the nerves of global investors. Once the independence of the Federal Reserve collapses, interest rate decision-making will xmtraders.completely become the plaything of the White House. What kind of turmoil will the U.S. economy and even the world's financial markets face?

Origin of the storm: Trump allies suddenly dropped a "mortgage fraud" bomb, pointing out that Cook had falsely declared multiple properties

Everything can be traced back to August 2025, when William Pulte, director of the US Federal Housing Finance Agency (FHFA) - a Trump Trump's die-hard supporter and White House appointee suddenly submitted criminal referral materials to Attorney General Pam Bondi (Pam Bondi), accusing Federal Reserve Board Governor Lisa Cook of allegedly falsely declaring the property as a "primary residence" to obtain lower interest rates and more favorable loan terms when applying for multiple mortgage loans in 2021. This is known as "occupancy fraud" in the mortgage world, and if xmtraders.committed, could constitute a federal felony.

Pulte focuses on Cook’s ownershipof three properties: a home in Ann Arbor, Michigan, an apartment in Atlanta, Georgia, and a property in Cambridge, Massachusetts. Two properties in Ann Arbor and Atlanta were applied for just weeks apart, but both were marked as a "principal residence" on standardized forms signed by Cook, promising to live there for at least a year. This immediately raises the question: How can one person use two houses thousands of miles apart as their primary residence at the same time? Pulte publicly stated that this behavior was an apparent attempt to obtain low interest rates on "primary residence" loans, and quickly turned over the material to the Department of Justice, triggering a criminal investigation.

The Trump administration took this opportunity to make a big fuss. The president himself even called Cook "must resign immediately" on social media, and announced in late August that he would be "immediately removed from office" because of these "credible fraud accusations."

This move is unprecedented. In the 111 years since the Fed was founded in 1913, no president has ever successfully removed a member of the Board of Governors. Trump's move was seen as naked political revenge by the outside world - because Cook is a trustee appointed by the Biden administration in 2022, and her term is supposed to last until 2038, and she tends to cautiously cut interest rates in monetary policy, which is incompatible with the "big release" low interest rate policy that Trump has repeatedly requested.

Cook's strong counterattack: The lawyer's long letter detailed three properties, and each accusation was dismissed as "innocent error" or "totally true"

Faced with overwhelming accusations, Cook himself has always denied any wrongdoing and quickly challenged Trump's removal decision through the courts. He has now successfully obtained temporary protection from the lower courts and the Supreme Court. On Monday, Cook's well-known lawyer Abbe Lowell sent a several-page defense letter to Attorney General Bondi. This was the first time that Cook's team responded xmtraders.comprehensively and item by item to the details of the mortgage, xmtraders.completely tearing apart the "disguise" of the accusation.

First, for the Ann Arbor, Michigan home: Lowell emphasized that when Cook refinances in 2021, the property will indeed be her primary residence. She was still teaching at Michigan State University at the time, living there full-time, and her declarations were xmtraders.completely accurate. It was not until Biden nominated her to join the Federal Reserve in 2022 that she moved to Washington, D.C., and then began renting out the property and strictly obtained a local rental license. The lawyer bluntly stated that there was "no problem" with the property's declaration and that Pulte xmtraders.completely ignored the time context.

Secondly, the Atlanta apartment has become the focus of controversy: Cook's original intention to buy this apartment in 2021 was to have a convenient place to visit relatives - because that year her family sold a joint property in Milledgeville, Georgia. The lawyer acknowledged that the loan application form did label it as a "principal residence" at one point, but that this was "an honest labeling error at best." More importantly, Cook also submitted another loan estimate for May 2021 to the lender, clearly specifying the use of the property as a "vacation home" (second/vacation home). Lowell sharp fingerHe said: "Since Cook herself submitted this document, how can it be concluded that she intended to defraud lenders?" He lambasted Pulte for "taking a line out of context from a document," intentionally ignoring key context and misleading the public and the Justice Department.

As for the Cambridge property, Lowell said Cook has always declared it as a secondary home or rental property and there has never been any discrepancy. Overall, the lawyer emphasized that these so-called "discrepancies" were either xmtraders.completely true or were just unintentional omissions, and that Cook disclosed sufficient information to the lender and could not constitute fraudulent intent at all. Although the Justice Department has launched an independent investigation, it has not filed any formal charges and has only stated that it "does not xmtraders.comment on ongoing or potential investigations."

Talk directly to the man behind the scenes: Pulte has been criticized for "selective law enforcement," and the White House is strongly suspected of coordinating a "political witch hunt."

The most explosive part of the defense letter is Lowell's fierce attack on Pulte. He accused Pulte of using his authority as FHFA director to "weaponize the agency" and selectively target Trump's political opponents while turning a blind eye to similar behavior by Republican officials.

Pulte’s recent series of actions have further undermined his credibility: he suddenly fired the FHFA acting inspector general and multiple internal supervisors at Fannie Mae, all of whom may have restricted his investigation. Lowell bluntly stated that these actions "severely undermined Pulte's credibility in referring the Cook case to criminal investigation" and gave a clear impression that "he has been improperly coordinating with the White House to create flimsy excuses."

In fact, Pulte was not the only one targeting Cook. He also launched similar mortgage fraud charges against a number of Democratic leaders, including the New York State Attorney General and Senators, with the same pattern. This has led to widespread suspicion among the outside world that this is an organized "political purge."

Constitutional battle: The Supreme Court will convene in January, and the Fed’s century-old independence is in jeopardy

Trump’s attempt to remove Cook directly challenges the core provisions of the Federal Reserve Act: the president can only remove governors for “just cause”, which is usually interpreted as dereliction of duty, dereliction of duty or dereliction of duty, and disagreements on monetary policy are never allowed. The White House originally hoped to xmtraders.complete the replacement before the Federal Reserve meeting in September, but the lower courts quickly stopped it. The Supreme Court rejected Trump's request for immediate removal from office last month and set a formal opening debate on January 21, 2026.

Although the justices have allowed Trump greater personnel power in other institutions, they have repeatedly hinted at the Fed's "uniqueness"-that it enjoys more protection from presidential interference. The outcome of this lawsuit will directly determine whether future presidents can purge Federal Reserve Board members at will. If Trump wins the case, the Fed's independence will suffer a fatal blow: interest rate decisions may succumb to the White House's short-term political needs at any time. What investors are most worried about is that the central bank will not be able to decisively fight inflation or stimulate the economy, leading to violent market fluctuations.

Epilogue: A loan crisis exposes the shocking game at the pinnacle of American power

Lisa·Cook's mortgage application, which was an ordinary private financial act, was magnified into a "nuclear bomb" that threatened the Federal Reserve's century-old cornerstone. The Cook team's powerful counterattack left the accusations full of loopholes; the Trump administration's tough push allowed the world to see the fierce collision of power and independence. The Supreme Court's decision in January 2026 will not only be a verdict on Cook's personal fate, but also a life-and-death test of whether the U.S. central bank can continue to be independent from political storms. Global investors are waiting with bated breath: Who will have the last laugh in this war? Can the Federal Reserve’s independence be maintained?

If Trump loses, the U.S. dollar may not be affected; but if Trump wins, the U.S. dollar is likely to start a wave of mid-term weakness, and it is not even ruled out that a repeat of the 2018-2019 round of "Trump scolds the Federal Reserve → the U.S. dollar falls" is the old script. Investors can stay on the sidelines for now and focus on the verdict in January.

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