Trump establishes committee to investigate Fed governor Lisa Cook
US president renews his efforts to oust Cook despite supreme court ruling that her firing was unconstitutional
TL;DR
- Donald Trump is establishing a committee to investigate Federal Reserve Governor Lisa Cook for alleged mortgage fraud.
- This is a renewal of Trump's efforts to oust Cook, despite a Supreme Court ruling that her prior firing was unconstitutional.
- The committee will consult with justice department officials to determine if there is 'cause' for her removal.
- An in-person hearing will be held on November 5, which will be closed to the public but transcribed and published.
- Cook's legal team disputes the fraud claims, stating they are based on clerical errors and questioning the legitimacy of the White House hearing.
- Cook was appointed by Joe Biden in 2022 and is the Fed's first Black governor.
- Her previous firing by Trump in August 2025 stemmed from allegations of mortgage fraud related to property listings and rental income.
- The Supreme Court ruled in June that Trump's firing was unconstitutional due to procedural errors.
- The article highlights the importance of the Fed's independence from political influence.