Bill Pulte, an official within the Trump administration who has taken a particularly aggressive stance against Federal Reserve Board Governor Lisa Cook in recent weeks, originally announced that he would convene a press conference on Thursday morning outside a federal courthouse in Washington, D.C. During this appearance, he claimed, he intended to unveil what he described as important new evidence concerning Cook. In an anticipatory statement posted on X earlier in the week, Pulte declared that once his revelations were shared publicly, many individuals would find themselves compelled to withdraw and formally apologize for the allegedly inaccurate and damaging assertions that, in his view, had previously circulated regarding his allegations. His message carried a tone of confidence, suggesting that the forthcoming disclosure would significantly shift the narrative in his favor.
However, only a day after making this emphatic announcement, Pulte reversed course. On Wednesday, he abruptly canceled the highly anticipated event, noting through another post on social media that his decision was motivated by what he described as a sense of “respect for the process.” By framing the cancellation in this manner, Pulte signaled that he wished to avoid interfering with ongoing legal or institutional proceedings, though his abrupt change of course inevitably fueled speculation about the underlying reasons for his retreat.
Almost simultaneously, significant new developments concerning Lisa Cook emerged from the journalistic sphere. The *Wall Street Journal* reported that the Justice Department had initiated a formal criminal investigation into Cook’s conduct. According to details disclosed by the outlet, federal prosecutors were employing the powerful tools of grand jury proceedings and issuing subpoenas to gather evidence, underscoring the seriousness with which the inquiry was being pursued. If substantiated, such an investigation would represent a dramatic escalation in the adversarial campaign led by the Trump administration against Cook, whose tenure on the Federal Reserve Board, under normal circumstances, is scheduled to continue until the year 2038.
The origins of this conflict are rooted in accusations advanced by Pulte in his capacity as head of the Federal Housing Finance Agency. Former President Trump, citing Pulte’s referral of alleged wrongdoing, issued a public letter in August declaring that Cook was being removed “for cause.” Pulte’s claims centered on the assertion that Cook misrepresented her intentions when securing multiple mortgages: one on a property in Georgia and another in Michigan. Specifically, he contended that Cook simultaneously claimed each residence as her primary home, a potential misrepresentation under mortgage lending rules.
Cook, however, has mounted a vigorous counterattack in court. Just last week, she filed suit against Trump, asserting that Pulte’s allegations—no matter how strenuously stated—fell far short of meeting the legal threshold required to justify a termination “for cause.” The lawsuit now sits before U.S. District Judge Jia Cobb, who is considering whether to grant a temporary restraining order. If granted, this order would guarantee Cook’s continued service on the Federal Reserve Board, at least until the pivotal upcoming meeting scheduled for September 16, while the longer legal battle unfolds. The stakes are undeniably high, given the critical role of the Federal Reserve in shaping economic policy, particularly at a time when markets remain sensitive to leadership stability within the institution.
At present, neither Bill Pulte nor representatives from the Department of Justice have offered any public remarks in response to inquiries about the matter. Likewise, Abbe Lowell, who serves as Cook’s defense attorney and is a prominent figure in high-profile legal cases, has remained silent. This absence of commentary only intensifies the uncertainty surrounding the situation, leaving observers to speculate about how the legal, political, and institutional dimensions of this controversy will intersect in the days ahead.
Sourse: https://www.businessinsider.com/bill-pulte-scraps-lisa-cook-update-criminal-investigation-2025-9
