Trump forms committee to investigate Fed's Lisa Cook

President Trump has established a committee to investigate Federal Reserve Governor Lisa Cook regarding allegations of mortgage fraud. The investigation aims to determine if there is 'cause' for her removal from the Fed board, following a Supreme Court ruling in June that declared an earlier attempt to fire her unconstitutional due to a lack of due process. The committee has scheduled an in-person hearing for November 5, where Cook will be allowed to present evidence and a written statement. Cook's legal team denies the allegations, characterizing them as clerical errors and questioning the legitimacy of the White House hearing, while critics suggest the move is part of a broader effort to influence the central bank's independence.

President Trump has established a committee to investigate Federal Reserve Governor Lisa Cook regarding allegations of mortgage fraud. The investigation aims to determine if there is 'cause' for her removal from the Fed board, following a Supreme Court ruling in June that declared an earlier attempt to fire her unconstitutional due to a lack of due process. The committee has scheduled an in-person hearing for November 5, where Cook will be allowed to present evidence and a written statement. Cook's legal team denies the allegations, characterizing them as clerical errors and questioning the legitimacy of the White House hearing, while critics suggest the move is part of a broader effort to influence the central bank's independence.