Politics · October 9, 2026
Trump creates panel to investigate Lisa Cook in long-running bid to fire Fed governor
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Neutral Summary
President Donald Trump has issued a memorandum establishing a committee of inquiry to investigate Federal Reserve Governor Lisa Cook regarding allegations of mortgage fraud. This move follows a June Supreme Court ruling that mandated Cook be given an opportunity to defend herself before any potential removal for 'cause.' The committee's hearing is scheduled for November 5, 2026. The investigation stems from allegations first raised in 2025 by FHFA chief Bill Pulte, while Cook’s legal team maintains the discrepancy on her mortgage application was an inadvertent error and argues the investigation is an attempt to compromise the independence of the Federal Reserve.
President Donald Trump has issued a memorandum establishing a committee of inquiry to investigate Federal Reserve Governor Lisa Cook regarding allegations of mortgage fraud. This move follows a June Supreme Court ruling that mandated Cook be given an opportunity to defend herself before any potential removal for 'cause.' The committee's hearing is scheduled for November 5, 2026. The investigation stems from allegations first raised in 2025 by FHFA chief Bill Pulte, while Cook’s legal team maintains the discrepancy on her mortgage application was an inadvertent error and argues the investigation is an attempt to compromise the independence of the Federal Reserve.