President Donald Trump told reporters Friday that he will fire Federal Reserve Governor Lisa Cook if she does not resign over allegations she committed mortgage fraud.

“Yeah, I’ll fire her if she doesn’t resign, yeah,” Trump said. “What she did was bad, so I’ll fire her if she doesn’t resign.”

Cook was criminally referred to the Department of Justice by Bill Pulte, director of the Federal Housing Finance Agency (FHFA). In a letter to DOJ officials shared by Pulte on social media, the FHFA director alleged that Cook fraudulently claimed two homes as her primary residence to potentially obtain more favorable mortgage rates. She then allegedly received investment income by renting out one of the properties.

Cook, who has served as a Fed governor since 2022, fired back against Pulte’s allegations on Wednesday, saying in a statement that she has “no intention of being bullied to step down from my position because of some questions raised in a tweet.”

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.”

On Thursday, Bloomberg reported that Justice Department official Ed Martin sent a letter to Fed Chair Jerome Powell, signaling the DOJ may investigate Cook.

“At this time, I encourage you to remove Ms. Cook from your Board,” Martin wrote, according to Bloomberg. “Do it today before it is too late! After all, no American thinks it is appropriate that she serve during this time with a cloud hanging over her.”

Powell does not have the legal authority to remove Cook from office. According to the Federal Reserve Act of 1913, only the president can initiate the process of removing a Fed governor, and it must be “for cause.” Should Trump choose to pursue that course of action, Cook would have the right to sue to retain her position, and the matter would become subject to judicial review.

Today’s comments by Trump took place at approximately the same time central bankers from around the world gathered in Jackson Hole, Wyo., to hear Powell’s highly anticipated keynote address at the Fed’s annual economic symposium.

CNBC reported that Cook was present for Powell’s speech, adding a layer of political drama to an event typically laser-focused on economic data.