(MENAFN) Federal Reserve Governor Lisa Cook announced on Wednesday that she has no plans to step down, rejecting President Donald Trump’s demand that she resign following allegations of mortgage fraud.

“I have no intention of being bullied to step down from my position because of some questions raised in a tweet,” Cook said in a statement released through a Fed spokesperson. She added, “I do intend to take any questions about my financial history seriously as a member of the Federal Reserve, and so I am gathering the accurate information to answer any legitimate questions and provide the facts.”

The controversy escalated after Federal Housing Finance Agency Director Bill Pulte requested that U.S. Attorney General Pam Bondi open an inquiry into Cook’s handling of two mortgages. According to reports, the referral was submitted in mid-August, alleging that Cook “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.”

Trump amplified the issue on social media Wednesday morning, urging Cook to resign shortly after the referral was made public.

So far, no criminal charges have been filed, and it is unclear if the Justice Department will move forward with an investigation.

Following Cook’s statement, Pulte posted on X, saying: “Write anything you or your attorneys want Miss Cook, you’ve been caught based on mortgage documents, not a tweet.”

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