President Donald Trump on Wednesday called for Federal Reserve Governor Lisa Cook to resign immediately, escalating his long-running campaign to reshape the U.S. central bank. The demand, issued on Trump’s social-media platform, marks a rare direct attempt by a president to force out a sitting Fed governor. Trump’s ultimatum came minutes after Federal Housing Finance Agency Director Bill Pulte asked Attorney General Pam Bondi to investigate Cook for possible mortgage fraud. Pulte alleges that Cook classified two properties as her primary residence within a fortnight in mid-2021—a $203,000 Ann Arbor home financed on 18 June and a $540,000 Atlanta condominium financed on 2 July—thereby securing more favorable loan terms. Cook, the first Black woman to serve on the Fed’s seven-member Board of Governors, rejected the demand. “I have no intention of being bullied to step down from my position,” she said in a statement, adding that she is assembling documents to address “any legitimate questions” about her finances. The Justice Department has acknowledged receipt of Pulte’s referral but has not announced any probe or charges. A vacancy created by Cook’s departure would give Trump a second seat to fill following Governor Adriana Kugler’s recent resignation and could shift the board toward officials who support the president’s call for rapid interest-rate cuts. Under the Federal Reserve Act, governors may be removed only “for cause,” a provision intended to protect the central bank’s independence. Markets registered the confrontation: gold extended gains and the dollar eased as investors weighed the risk of deeper political pressure on U.S. monetary policy.