ambitiously. >> Welcome back to Squawk Box. The Department of Justice is investigating Federal Reserve Governor Lisa Cook over allegations of fraud related to her mortgages.A letter signed by DOJ attorney Ed Martin also urging Fed Chair Jerome Powell to remove cook from the central bank's board, though in fact he doesn't have the power to do that. Joining us right now to help us understand the allegations against cook, some of the rules and how this could all play itself out. Former Assistant Attorney Gener ...

Federal Housing Finance Agency Director Bill Pulte suggested his referral of Fed Governor Lisa Cook for alleged mortgage fraud was part of a broader crackdown on the issue https://t.co/648cPXbIDI ...

Anytime a member of the board is being personally attacked by the president, it does jeopardize the political independence of the Fed. That's for sure. What's a little bit tricky is that there are some actions taken by the board that require a simple majority. There are others that require a five vote supermajority.So the more seats Trump can claim, the more he can undertake certain actions uh including adjusting the discount rate which is decided by the board of governors rather than by the FOMC. And I thi ...

Federal Reserve Governor Lisa Cook signaled her intention to remain at the central bank in defiance of calls for her resignation by President Donald Trump over allegations of mortgage fraud https://t.co/jGSfgOlTu5 ...

Federal Reserve & Monetary Policy - President Trump calls for the resignation of Fed Governor Lisa Cook amidst mortgage fraud allegations [1][2] - The potential firing of Lisa Cook is seen as part of Trump's broader effort to influence the Fed and push for lower interest rates [4][10] - The market is currently pricing in three rate cuts by the end of the year, but concerns about inflation persist [14] - The Fed faces a difficult situation with conflicting signals from employment and inflation data [16] - The CME Group's Fed watch tool indicates around 80% probability of a September rate cut [12] Allegations Against Lisa Cook - Lisa Cook is accused of listing two different residences as her primary residence on mortgage applications [3][6] - The head of the Federal Housing Finance Agency (FHFA) has referred the allegations to the Justice Department [2][3] - It is noted that there may be circumstances where listing two primary residences is permissible, such as co-signing for a dependent [3][7] Market Expectations & Fed's Stance - The market anticipates Fed Chair Jerome Powell to slightly open the door to a rate cut in September [13] - Recent weak jobs numbers and downward revisions to hiring in May and June could tilt the scales towards a rate cut [14] - The minutes from the recent FOMC meeting revealed that most Fed members remain focused on inflation [11][13] - Only two out of twelve Fed members indicated that the risks of lower employment outweigh those of inflation [12]

You know, when this came across my desk, I said, "Oh, you know, people are going to think this, that, or the other thing." Well, it doesn't really matter. If she did this, she did this. We have an obligation to report it, and it wouldn't matter whether, you know, she was a Republican or Democrat.It's it's it is what it is. Still, you have to admit that you'd be you'd be probably happy to see the president get another yet another pick for a new governor if this is where all this goes on the on the Federal Re ...

So, what have you found. What have you dug up on Governor Cook. >> Well, I don't know if it's as much digging up as much as it is doing our job.We refer people every day criminally for mortgage fraud and no one is above the law. And in this case, it happens to be a Fed governor and I have an obligation to do something about it. So, when we received a tip, this is this is what we discovered.And it's very unfortunate because, you know, a Fed governor is supposed to understand economic harm of mortgage fraud. ...

Back in March, like six generations ago, Donald Trump made a visit to the US Department of Justice. Now, it's not actually a place that's typically visited by presidents. Partly because the DOJ is supposed to operate independently from the presidency, even though it's part of the executive to guarantee or at least and try and make people think there isn't political influence from the White House. But now, you know, we're not living in ordinary times. Trump's visit was more ironic than it was unusual because ...