Trump Forms Committee to Investigate Fed Governor Lisa Cook
President Trump has created a committee to probe Fed Governor Lisa Cook over allegedly false mortgage statements, following a Supreme Court ruling on Fed governor removals. The committee will hold a hearing at the White House to determine if cause exists for her removal.
US President Donald Trump has established a committee to investigate Federal Reserve Governor Lisa Cook over allegations she made false statements related to mortgages, according to a notice published on the White House website on Friday.
The presidential memorandum, dated October 7, states: "To assist me in carrying out that responsibility, the Committee shall investigate the allegations against Governor Cook and report to me whether there is 'cause' for Governor Cook's removal."
The committee will hold an in-person hearing at the White House "to consider the evidence and allegations against Governor Cook," with the hearing lasting no longer than four hours, the memorandum said.
This move follows Trump's failed attempt to remove Cook, the first Black woman to serve on the Fed's board, a year ago. The US Supreme Court subsequently ruled that a president cannot remove a Fed governor without adequate cause and must follow a clear process to present reasons and evidence. The ruling allowed Cook to remain in her position but sent the case back to a federal district court.
Cook was appointed to the Fed board in 2022 by former President Joe Biden, a Democrat, and was reappointed in 2023 to a term lasting until 2038.
