Scott Bessent Notes the One Key Thing Fired Fed

As we’ve reported, President Trump fired Federal Reserve Governor Lisa Cook on Monday for “cause” in gentle of her latest prison referral relating to alleged mortgage fraud.

She has argued that the president has no authority to fire her, and that she’s submitting go well with against the administration.

But Treasury Secretary Scott Bessent told Fox News Business’ Maria Bartiromo Wednesday that there’s one notable factor that Cook hasn’t said—that she’s harmless.

There are two varieties of people — there are people who suppose that President Trump is placing undue strain on the Fed, and there are people like President Trump and myself who suppose that if a Fed official dedicated mortgage fraud, that this ought to be examined, and that they shouldn’t be serving as one of the nation’s main financial regulators.

And what we haven’t heard from Miss Cook is we haven’t heard her say “I didn’t do it.” We haven’t her say “I didn’t do it.”

Watch:

🚨 JUST IN: SCOTT BESSENT excoriates Democrat Fed Governor Lisa Cook for refusing to let President Trump fire her after she dedicated mortgage fraud pic.twitter.com/HjmDAK5Lj0

“We haven’t heard her say ‘I didn’t do it!’ She just keeps saying the president can’t remove her.”

“If a…

— Eric Daugherty (@EricLDaugh) August 27, 2025

The DOJ is investigating whether or not in 2021 she misrepresented two properties as her main residence within weeks of each other. That’s a no-no. RedState’s Bonchie wrote:

The prison referral in query accused Cook of claiming her main residence in Michigan on mortgage paperwork, only to flip around and do the same factor with a different property in Georgia just a month later. As the letter [firing her] notes, it appears unbelievable that such a factor could possibly be carried out unknowingly. 

U.S. Director of Federal Housing William Pulte, who made the prison referral, seemingly has the receipts:

U.S. Federal Housing FHFA, alleges in a Criminal Referral to the Department of Justice that Federal Reserve Governor, Lisa D. Cook, dedicated mortgage fraud by designating her out of state rental as her main residence, just two weeks after taking a loan on her Michigan home… pic.twitter.com/3hlknQ4yzF

— Pulte (@pulte) August 20, 2025

READ RELATED: GWN Makes Damning Admission About Fed Governor Firing, but Their Excuse Is Mind-Blowing

Fed Reserve Governor Lisa Cook Says She’s Not Going Anywhere, Trump Has ‘No Authority’ to Fire Her

Bessent continued, saying the Federal Reserve wants to be held accountable just like everybody else:

She retains saying the president can’t take away her. The other factor too, I’ve called in the latest past for an inside review of all the Fed’s operations, and I’ve inspired Chair Powell to do this on an inside foundation before there may be an exterior review and this is the form of factor that wants to be addressed because the Fed is an unaccountable establishment and its relationship with the American people relies upon on a high degree of trust.

And incidents like this puncture that trust, so President Trump is attempting to make sure that anybody who serves at this establishment has the trust of the American people.

The Fed acts as an unbiased company, but that doesn’t imply the Executive Branch has no position. According to their web site, the Board is run by seven members, or “governors” serving staggered 14-year phrases, who are nominated by the president and confirmed by the Senate. The Federal Reserve Act of 1913 says that a president can fire a member of the Federal Reserve Board—but only “for cause.”

“Cause” has never been exactly outlined, and legal specialists are divided over whether or not Trump’s transfer will survive legal challenges.

That being said, Bessent’s level is legitimate: where are Cook’s denials that she is solely harmless of the allegations?