Trump launches probe into Federal Reserve Governor Lisa Cook
Summary
President Donald Trump has created a committee to investigate Federal Reserve Governor Lisa Cook over alleged false statements on mortgage documents. The committee will review evidence and hold a hearing on November 5 to decide if she can be removed from her position.Key Facts
- President Trump formed a three-member committee to investigate Fed Governor Lisa Cook.
- The investigation focuses on whether Cook made false statements on mortgage papers in 2021.
- Cook was appointed to the Federal Reserve Board in 2022 by President Joe Biden, with a term lasting until 2038.
- There will be a hearing on November 5, where Cook must appear and answer questions.
- Trump started trying to remove Cook in August 2025 after mortgage fraud allegations.
- Cook sued to block her removal, and a federal judge stopped her firing in September 2025.
- The US Supreme Court said the president cannot remove a Fed governor without proper cause and process.
- The committee includes the president’s economic policy assistant, EEOC chair, and director of government ethics.
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