BREAKING: Trump Axes Federal Reserve Governor Lisa Cook

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Donald Trump just did something no president has ever done—he fired a sitting Federal Reserve governor. Lisa Cook says Trump has no legal authority, the DOJ is circling, and Bill Pulte is suddenly digging through mortgage applications like the janitor in The Breakfast Club.
In this episode of Watchdog on Wall Street:

• Why Trump’s firing of Lisa Cook is truly unprecedented
• The dangerous game of turning the Fed into a political battleground
• How Bill Pulte’s role in this raises serious questions
• Why Trump thrives on constant controversy—and the media loves it

It’s part power play, part reality show. But does it help the country?

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
So, Donald Trump, this first time this has ever happened.
Has fired fired Federal Reserve Board Governor Lisa Cook Trump
a determination letter posted on Truth's social citing allegations by
f Federal Housing Finance Agency Director Bill Pulti that she

(00:38):
had made false statements on applications for home mortgages. Uh huh.
This came days after the Department of justiceaid it would
investigate Cook because of Poltice's claim. Dan Cook said in
the statement, President Trump are purported to fire me for
cause where no cause exists under the law, and has

(00:59):
no authority to do so. I will not resign. She
is I got the first black woman to service FED governor,
not that matters at all, and I quite frankly, I
could care less about that. So I will continue to
carry out my duties to help the American economies. I've
been doing since twenty twenty two. Okay again, they've they've

(01:21):
forced out FED governors in the past when if we
were not long ago, it was twenty twenty two due
to stock trades and basically, you know, the head of
FED came tap them on his shoulders. Listen, guys, I mean,
this just doesn't look good. You've got to go a
story we covered here on the program. This this is

(01:45):
a little different. You know what I was thinking about
with this story again, Bill Poulte, what what are you
doing rummaging around and the finances of members of the federals.
I mean, you're the again Federal Housing Finance Agency director.

(02:06):
Kind of reminds me of the movie The Breakfast Club.
Remember when Carl, the janitor in the Breakfast Club catches
the principal member, Principal Vernon looking in the files of
the various different staff there at the school, trying to
dig up dirt. Yeah, it doesn't sit that well with me.
And there's concern now that Okay, Trump was looking to

(02:30):
clean house so he can have all of his appointees there.
I don't know what she's guilty of. I don't know
if she's guilty of something, But again, this has a
bit on the unprecedented side.

Speaker 1 (02:47):
It really is.

Speaker 2 (02:48):
This is Donald Trump flexing as much well. This is
also part of the reality television show that has become
our modern day modern day politics. Got to have something
in the news all the time, have to you know,
have something that the media is going to take the
ball and run with it and be able to bring

(03:10):
people on. He is he is Donald Trump is the
ultimate content provider for the mainstream media. Really is. I
mean he runs this thing and you know, like a
reality show. For crying out loud, it's gotta have gotta
have another story, have to be in the news all
the time, got to be changing things up. And that's

(03:31):
one of the reason why he does this. This is
his way of I guess, selling himself and marketing. Again,
that's the way I would do things, by any stretch.
If she is guilty of something or if she had
done something right, is it a virable offense? I I
don't know, but you kind of want to allow the

(03:53):
Fed to remain independent. If you're not going to do it, well,
then you know what you need to get rid of it,
need to get rid of it all together. I think
it's the greatest look out there. No no, but it's serving,
it's serving its purpose for Donald Trump he's creating another controversy,

(04:14):
another news story, and that's what he wants. Watchtrog on
Wall Street dot com