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Donald Trump calls on Federal Reserve official to resign after official accuses her of mortgage fraud

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President Donald Trump on Wednesday called on Federal Reserve Governor Lisa Cook to resign after a member of his administration accused Cook of committing mortgage fraud, the latest example of the Trump administration’s efforts to gain control over the central bank.

Bill Pulte, Director of the agency that oversees mortgage giants Fannie Mae and Freddie Mac, urged the Justice Department to investigate Cook, who was appointed to the Fed’s governing board by former President Joe Biden in 2022. She was reappointed the following year to a term that lasts until 2038, the longest remaining term among the seven Governors.

Pulte, in a letter to Attorney General Pam Bondi, alleged that Cook claimed two homes as her principal residences in 2021 to fraudulently obtain better mortgage lending terms. On June 18 of that year she purchased a home in Ann Arbor, Michigan, and then two weeks later bought a condo in Atlanta, Georgia, the letter said.

Pulte also charged that Cook has listed her condo in Atlanta, Georgia, for rent. Mortgages for homes used as principal residences typically carry lower interest rates than properties that are purchased to rent, the letter said.

The Federal Reserve declined to comment on the accusation. A Justice Department spokesperson also declined to comment.

The allegation represents another front in the Trump administration’s attack on the Fed, which has yet to cut its key interest rate as Trump has demanded. If Cook were to step down, then the White House could nominate a replacement. And Trump has said he would only appoint people who would support lower rates.

The more members of the Fed’s governing board that Trump can appoint, the more control he will be able to assert over the Fed, which has long been considered independent from day-to-day politics.

Trump will be able to replace Chair Jerome Powell in May 2026, when Powell’s term expires. Yet 12 members of the Fed’s interest-rate setting committee have a vote on whether to raise or lower interest rates, so even replacing the Chair doesn’t guarantee that Fed policy will shift the way Trump wants.

Yet appointing more board members would give Trump more power over the institution. All seven members of the Fed’s governing board are able to vote on rate decisions. The other five voters include the President of the Fed’s New York branch and a rotating group of four of the Presidents of the Fed’s other 11 regional branches.

Trump appointed two members of the Fed’s board in his first term, Christopher Waller and Michelle Bowman. Both dissented July 30 from the central bank’s decision to keep its rate unchanged, in favor of a rate cut.

Another Fed Governor, Adriana Kuglerstepped down unexpectedly Aug. 1, and Trump has appointed one of his economic advisers, Stephen Miran, to fill out the remainder of her term until January.

If Trump is able to replace Cook, the first Black woman to serve on the Fed’s board, as well as Kugler, that would give him a clear majority on the board of Governors. If Powell leaves the board when his term as chair ends next May, then Trump will be able to fill a fifth spot. However, Powell could stay on the board until early 2028 after finishing his term as chair.

The Presidents of the regional Federal Reserve banks are selected by the Board of Directors of those banks, but are subject to the approval of the Fed’s board of Governors. The terms of all 12 of the regional Fed Presidents end next February.

Trump has for months demanded that the Federal Reserve reduce the short-term interest rate it controls, which currently stands at about 4.3%. He has also repeatedly insulted Powell, who has said that the Fed would like to see more evidence of how the economy evolves in response to Trump’s sweeping tariffs before making any moves. Powell has also said the duties threaten to raise inflation and slow growth.

Trump says that a lower rate would reduce the government’s borrowing costs on $37 trillion in debt and boost the housing market by reducing mortgage rates. Yet mortgage borrowing costs do not always follow the Fed’s rate decisions.

The Trump administration has made similar claims of mortgage fraud against Democrats that Trump has attacked, including California Sen. Adam Schiff and New York Attorney General Letitia James.

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Republished with permission of The Associated Press.


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Debbie Wasserman Schultz language protecting Everglades from pipeline fastrack rejected in committee

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Florida Democrats say an amendment shot down by the U.S. House Rules Committee could have protected the Everglades from energy exploration.

U.S. Rep. Debbie Wasserman Schultz, a Weston Democrat, pushed for a change in language in the Improving Interagency Coordination for Pipeline Reviews Act (HR 3668) during Committee proceedings. That bill, filed by U.S. Rep. Richard Hudson, a North Carolina Republican, would expedite review of natural gas or liquified gas pipelines by the Federal Energy Regulatory Commission (FERC).

Wasserman Schultz’s amendment to the bill would have excluded the Everglades and other Florida navigable waters from that change, still requiring extensive review to put a pipeline through Florida’s largest national park. However, the Rules Committee did not allow the amendment to come to a vote.

“While we spend billions to restore the Everglades, House Republicans voted to pollute it,” Wasserman Schultz posted on social media.

She said the amendment was worked on with the support of most Democrats in Florida’s congressional delegation, including U.S. Reps. Kathy Castor, Lois Frankel, Darren Soto and Frederica Wilson. Wasserman Schultz is the Democratic co-chair of the congressional delegation.

The proposed change “tried to exempt the Everglades from this dirty water bill, but House Republicans rejected it,” Wasserman Schultz said.

Republicans characterized the legislation differently, with some members from Florida.

U.S. Rep. Cory Mills, a New Smyrna Beach Republican, said he supported advancing the bill from the Committee to the floor.

“I voted to support HR 3668, the Improving Interagency Coordination for Pipeline Reviews Act, to cut red tape and speed up approvals for natural gas pipelines and LNG terminals,” he posted. “This bill puts FERC in charge of NEPA (National Environmental Policy Act) reviews, sets strict timelines, improves agency coordination and strengthens pipeline security. This is how we lower energy costs and boost American energy independence.”

FERC is responsible for reviewing and issuing permits for new or expanded gas lines. The legislation, as written, would shift oversight responsibilities from state governments to the agency and eliminate the need for state certifications.



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Sheila Cherfilus-McCormick is fundraising off of charges she stole $5M from FEMA

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Democratic U.S. Rep. Sheila Cherfilus-McCormick is staying true to the old maxim, “Never let a crisis go to waste.”

This week, her re-election campaign sent texts to voters imploring them to donate to help her in “fighting back” against what she calls a “politically motivated” attack against her.

She’s referring, of course, to federal charges filed in November accusing her of stealing $5 million in Federal Emergency Management Agency (FEMA) funds to bankroll her 2021 congressional campaign.

“2 weeks ago, I took a stand and voted to demand transparency, truth and accountability from our leaders. The next day, the attacks began. An indictment was filed. This was not random. This was politically motivated retaliation,” the text said.

“But this isn’t about silencing one person. It’s about sending a clear message to anyone who dares to challenge powerful interests: ‘Fall in line — or pay the price. Well, I’m fighting back — but I need you with me. DONATE NOW.”

The text then links to a donations page that, among other things, says, “She voted for the truth. They answered with retaliation.”

The fundraising text.

A perusal of Cherfilus-McCormick’s votes from around two weeks back reveals what she is likely referring to: “yesvotes on measures concerning the release of files connected to convicted sex offender Jeffrey Epstein.

Notably, none of the 426 other members of the House who voted to release the Epstein files were federally indicted for embezzling COVID funds in recent weeks.

The grand jury indictment against Cherfilus-McCormick, announced Nov. 19, alleges she and her brother secured funding intended for a COVID vaccine distribution program, but when overpayments were made, she rerouted the money through several accounts that later donated to her campaign.

U.S. Attorney General Pam Bondi described the alleged act as “a particularly selfish, cynical crime.”

Cherfilus-McCormick, 46, has maintained and reiterated that she is innocent of wrongdoing, calling the charges “unjust” and “baseless.”

“The timing alone is curious and clearly meant to distract from far more pressing national issues,” she said a day after the indictment was announced, noting that she has “fully cooperated” with a yearslong investigation into the matter. “I look forward to my day in court. Until then, I will continue fighting for my constituents.”

The fundraising site.

Should Cherfilus-McCormick be found guilty of all counts in the indictment, she could face up to 53 years in prison.

Cherfilus-McCormick isn’t the only federal lawmaker from Florida to fundraise off of her legal travails. Last year, following a House Ethics Committee report that there was “substantial evidence” he paid for sex, including with a 17-year-old, former U.S. Rep. Matt Gaetz sent out a fundraising plea citing his troubles.

“I need your help,” Gaetz, a Republican, said in an email through his political committee last December. “I’ve fought for you in Congress for eight years against the worst of the Radical Left and Uniparty. Now, they’re seeking their revenge.”

Gaetz, who resigned the month before, called the scrutiny over his alleged impropriety a “witch hunt.”

Former Republican U.S. Rep. George Santos of Long Island used the exact phrase to describe the fraud and money-laundering charges he faced in May 2023, about seven months before his peers in the House expelled him.

Republican U.S. Rep. Greg Steube introduced a resolution last month to expel Cherfilus-McCormick. Other than its referral to the Ethics Committee, no action has been taken on the bill.

Cherfilus-McCormick represents Florida’s 20th Congressional District, which spans parts of Broward and Palm Beach counties. She faces Primary challenges from Dale Holness and Elijah Manley, the latter of whom she is suing for defamation over the FEMA funds issue.

Republicans Sendra Dorce and Rodenay Joseph are also running in the district, which leans heavily Democratic.

Florida Politics contacted Cherfilus-McCormick’s Communications Director, Kailyn McBride, seeking comment about the Congresswoman’s texts, but received no response.

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Jacob Ogles contributed to this report.



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PFAS water contamination has met its match

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Toxic PFAS “forever chemicals” are found in nearly half of all U.S. drinking water. These harmful chemicals are linked to cancer, developmental issues, and immune system damage. They enter our water systems through industrial discharges, firefighting foams, and landfill runoff. Once present, they are nearly impossible to remove using traditional methods.

For years, families, utilities, and local governments have faced a difficult choice: accept unsafe water or pay for costly, slow, and incomplete cleanup methods.

After 10 years of research and development, Eco World Water has the solution.

At Eco World Water, we have completed four months of rigorous pilot testing with an independent laboratory, under protocols reviewed by the Florida Department of Environmental Protection. The verified lab results confirm that our system can reduce PFAS to non-detectable levels in a safe, reliable, and quick manner. More importantly, the system produces clean, safe water in minutes, not days.

For a national problem needing a scalable solution, this is a breakthrough with transformative potential.

Per- and polyfluoroalkyl substances (PFAS) earned the nickname “forever chemicals” for a good reason. They persist in the environment for decades, are resistant to conventional treatment, and pose serious risks to public health. That is why our verified results are so significant.

For too long, PFAS have been viewed as an unsolvable challenge. We can now say with confidence: problem solved. Our system demonstrates that communities don’t have to accept “forever chemicals” as a fact of life. PFAS-free water is not theoretical. It’s operational.

Just as important, Eco World Water’s patented, modular technology is a complete, all-in-one system built for permanent installation. It takes up significantly less space than traditional wastewater treatment systems and can be scaled to meet the needs of communities, large or small. Its modular design also enables a version that fits inside a shipping container, ideal for rapid deployment to disaster relief zones or remote locations where clean water is urgently needed.

The system turns raw wastewater into water that meets drinking quality standards, not just removing PFAS, but also eliminating a wide range of harmful contaminants like heavy metals, pharmaceuticals, and pathogens. It’s fast, compact, and easy to operate, bringing clean water where it’s needed most, without the delays or complexity of traditional systems.

This is the result of more than 10 years of focused research and development. Eco World Water’s mission is simple: give every community access to clean, safe, and affordable water. With these latest independent lab-verified results, we are delivering on that mission.

This progress comes at a crucial moment in the quest for clean water.

States across the country are preparing for more demanding PFAS standards and increased federal oversight. Billions of dollars in federal infrastructure funding are available to support water system upgrades. Yet many communities still lack tools that can meet those expectations. Our technology can adapt to the needs of each site and provides a clear, cost-effective path toward compliance with new federal mandates.

Families deserve water they can trust. Local governments deserve options that don’t strain their budgets. Communities deserve solutions that meet the urgency of the clean water moment.

Eco World Water is ready to deliver.

After decades of frustration and uncertainty, we now have a verified solution. Water with undetectable PFAS levels is not just an aspiration. It’s a proven, tested reality.

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Steve Adelstein is the Executive Chair of Eco World Water.



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