The White House has established a committee to investigate claims against Federal Reserve Governor Lisa Cook concerning allegedly false statements in one or more mortgage documents. The committee will report its findings to President Donald Trump, who previously sought Cook’s removal.
Committee to hold closed hearing
The committee includes the White House Assistant for Economic Policy, the chair of the Equal Employment Opportunity Commission, and the director of the Office of Government Ethics. It plans a closed-door hearing on 5 November to examine evidence and claims related to Cook.
Following the hearing, Cook is scheduled to submit a written defence to the committee by 10 November. Records of the hearing will be kept but not publicly released.
Legal challenges delay removal
Cook filed a lawsuit to block enforcement of Trump’s removal decision. Judge Jia Cobb temporarily blocked Cook’s removal, ruling the mortgage allegations insufficient grounds for dismissal.
The Trump administration appealed to the Court of Appeals and, following an unfavorable ruling, took the case to the United States Supreme Court. The Supreme Court heard arguments in January and ruled in June that Cook could remain in her position throughout the legal process.
Implications for Fed governance
Source: The White House
