President Donald Trump on Wednesday demanded that Federal Reserve Governor Lisa Cook resign, declaring she “must resign now” after allegations surfaced that she obtained two mortgages by falsely designating each property as her primary residence. The accusations were outlined in an Aug. 15 criminal referral sent by Federal Housing Finance Agency Director Bill Pulte to Attorney General Pam Bondi and the Justice Department. Pulte, a Trump ally, urged federal prosecutors to open a mortgage-fraud investigation. According to the referral, Cook took out a $203,000, 15-year loan on an Ann Arbor, Michigan, home on June 18 2021 that required her to live there for at least a year. Two weeks later, on July 2, she secured a separate $540,000, 30-year mortgage on a Georgia condominium under a similar occupancy clause; the unit was later advertised for rent, the letter says. No charges have been filed, and the Justice Department and the Federal Reserve declined to comment. Cook, a Biden appointee whose term runs through 2038, has not responded publicly to the allegations. A resignation would hand Trump a fifth seat on the seven-member Fed board, heightening concerns about White House pressure on monetary policy. The dollar slipped and Treasury yields dipped after the president’s social-media post.