Trump committee hearing on Fed Governor Lisa Cook rescheduled to Dec. 14

On November 4, the New York Times reported that the White House has scheduled a hearing on December 14 to investigate allegations of mortgage fraud involving Federal Reserve Governor Lisa Cook. The source cited an unnamed White House official. This is part of President Donald Trump's ongoing efforts to remove her from her position.

Cook's legal counsel did not respond to inquiries about the fairness of the hearing or provide any additional information. However, they did request details from the White House regarding the procedures involved before agreeing to a specific date. Trump has been attempting to dismiss Cook for over a year, which is one of several unique attempts by any president to assert control over the Federal Reserve while in office. No president has ever removed a US central banker before.

In June, the Supreme Court ruled that Trump cannot remove a Fed governor at will but may be able to do so if he allows the governor to defend herself. Trump's top economic aide, Kevin Hassett, stated last week on Bloomberg TV that Cook's attorneys had consented to a date in December for a hearing that Hassett claimed would be fair. Hassett is part of a three-person committee formed by Trump to hold the hearing and make a recommendation on whether Cook should be fired.

Cook's lawyer, Abbe Lowell, informed the White House last month that she would not be able to attend the initially announced hearing date on November 5. Instead, she would be unable to participate until after the Fed's policy-setting meeting scheduled for December 8 to 9.