Trump launches fresh bid to remove Fed Governor Lisa Cook — White House hearing scheduled for November 5
The November 5 hearing is likely to become a focal point in the continuing legal and political dispute, with implications extending beyond Cook’s position to the broader question of Federal Reserve independence.
President Donald Trump has launched a new effort to remove Federal Reserve Governor Lisa Cook by forming a "committee of inquiry" to examine allegations of false statements on mortgage applications. The committee is set to hold a closed-door hearing at the White House on November 5, where Cook will be required to answer questions from the panel.
The hearing will not be open to the public, but a transcript will be made available. Trump's move comes as part of his ongoing campaign against Cook and is expected to raise questions about the independence of the US central bank. Trump claims that as president, he has the responsibility to ensure that government officials comply with the law and that he can remove subordinates who cannot be trusted to tell the truth or follow the law.
The committee, comprising three members including Trump's top economic adviser Kevin Hassett and the Equal Employment Opportunity Commission chair Andrea Lucas, will determine if there is sufficient cause to remove Cook based on the allegations. Cook has denied any wrongdoing and has not been charged with a crime. Her legal team is evaluating whether she should attend the hearing and respond to the allegations.
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