Trump Orders Panel to Investigate Fed Governor Cook, Keeping Up Removal Pressure

U.S. President Donald Trump has ordered the creation of a separate investigative committee to examine allegations that Federal Reserve Governor Lisa Cook falsified mortgage documents. The White House released the relevant presidential memorandum on the 9th local time. Trump announced Cook's removal last August based on suspicions that she falsified 2021 mortgage documents, but in June the Supreme Court allowed her to remain in her position, citing the lack of an adequate opportunity to respond to the allegations.

The committee will hold a closed-door, in-person hearing at the White House on the 5th of next month, lasting no more than four hours. Governor Cook must attend the hearing and answer the panelists' questions. The committee is to report to President Trump on whether there is legal 'just cause' to remove Governor Cook, and may consult with officials from executive branch departments and agencies, including the Department of Justice.

Cook's lawyers said they are reviewing whether she will attend the hearing, stating, "We welcome the opportunity to present the facts so that she can restore her reputation and demonstrate that there is no legal basis for her removal." They added, "We are in discussions with the White House to assess whether there is any possibility this will be a genuine process rather than a mere formality."