Trump Forms Committee to Investigate Federal Reserve Governor Lisa Cook

President Donald Trump established a committee of inquiry to investigate allegations that Federal Reserve Governor Lisa Cook committed mortgage fraud. The investigation focuses on claims that Cook made false statements on mortgage instruments by listing two separate properties as primary residences, an accusation first leveled by Federal Housing Finance Agency Director Bill Pulte.

The committee consists of administration officials Kevin Hassett, Keith Sonderling, and Andrea Lucas. They are tasked with determining if there is legal cause to remove Cook from the Federal Reserve Board. A closed-door, transcribed hearing is scheduled for November 5 at the White House.

This action follows a June Supreme Court ruling that blocked a previous attempt by Trump to fire Cook due to a lack of due process. Attorneys for Cook have dismissed the allegations as an inadvertent oversight and characterized the hearing as a box checking exercise designed to pressure the independent central bank into lowering interest rates.