The United States Federal Reserve’s Chief Monetary Economist, Lisa Cook, is facing allegations of mortgage fraud. The Justice Department has initiated a legal investigation, alleging that she misrepresented information regarding mortgage loans. These allegations stem from a recent investigation into potential financial irregularities. The investigation is focused on whether Cook’s actions may have compromised the stability of the financial system. The Federal Reserve is currently reviewing Cook’s actions and will decide whether to approve her departure from the role.
Credits: The Straits Times World News