President Donald Trump said Friday he will dismiss Federal Reserve Governor Lisa Cook if she does not step down, telling reporters, “I’ll fire her if she doesn’t resign. What she did was bad.” The ultimatum follows days of mounting pressure from the White House for Cook to leave the central bank’s board. The push to remove Cook stems from a criminal referral sent to the Justice Department by Federal Housing Finance Agency Director Bill Pulte, a close Trump ally. Pulte alleges Cook falsified mortgage documents to secure favorable loan terms on an Atlanta condominium shortly after taking out a mortgage on a Michigan home that she also declared as her primary residence. The Justice Department has not commented publicly on the matter, and the Federal Reserve declined to respond. Cook, who joined the Fed board in 2022, said in a statement earlier this week that she has “no intention of being bullied to step down” and is gathering records to address what she called unfounded claims. Massachusetts Senator Elizabeth Warren condemned Trump’s threat, arguing that an attempt to oust an independent Fed governor for political reasons would be unlawful. Cook’s six-year term runs through 2038. Her removal would open a third seat for Trump to fill on the seven-member Board of Governors as the administration also considers candidates to succeed Chair Jerome Powell when his term ends in 2026. The confrontation marks the latest flashpoint in an extended clash between the White House and the central bank over interest-rate policy.