Trump Forms Committee to Investigate Fed Governor Lisa Cook
President Trump is pursuing a new avenue to remove Fed Governor Lisa Cook after a Supreme Court ruling blocked her earlier firing.
President Donald Trump announced Friday he is establishing a formal committee to investigate Federal Reserve Governor Lisa Cook over allegations of mortgage fraud, intensifying his push to remove her from the central bank's board despite a recent court setback.
The move comes after the Supreme Court ruled in June that Trump's earlier attempt to fire Cook was unconstitutional. Undeterred, the White House is now pursuing a procedural path that would require establishing legal "cause" for her removal, a higher bar than a simple executive dismissal.
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Trump said the newly formed committee will consult with Justice Department officials to determine whether sufficient grounds exist to justify Cook's ouster. The White House has scheduled an in-person hearing for November 5 to weigh the allegations. The proceeding will be closed to the public but transcribed, with the transcript to be made publicly available afterward.
Cook will be permitted to submit a written statement and present her own evidence. Both White House counsel and Cook's personal legal representatives will be allowed to question her during the hearing, according to the announcement.
The episode marks the latest flashpoint in an escalating standoff between the Trump administration and the Federal Reserve, an institution traditionally shielded from direct political interference. Legal scholars have noted that the constitutional protections surrounding Fed governors are designed specifically to preserve the central bank's independence from executive pressure. Continue reading at Business | The Guardian.
