Trump creates committee to investigate Fed's Lisa Cook

President Trump has established a "committee of inquiry" to investigate Federal Reserve Governor Lisa Cook over allegations of mortgage fraud. The committee, consisting of three administration officials, will hold a transcribed hearing on November 5, 2026, to determine if there is "cause" for her removal. This follows a June 2026 Supreme Court ruling that found a previous attempt to fire Cook was unconstitutional because she lacked procedural protections, such as notice and an opportunity to be heard. Cook and her legal team deny the allegations, characterizing them as clerical errors and questioning the legitimacy of the new hearing.

President Trump has established a "committee of inquiry" to investigate Federal Reserve Governor Lisa Cook over allegations of mortgage fraud. The committee, consisting of three administration officials, will hold a transcribed hearing on November 5, 2026, to determine if there is "cause" for her removal. This follows a June 2026 Supreme Court ruling that found a previous attempt to fire Cook was unconstitutional because she lacked procedural protections, such as notice and an opportunity to be heard. Cook and her legal team deny the allegations, characterizing them as clerical errors and questioning the legitimacy of the new hearing.