Trump establishes committee to investigate Fed governor Lisa Cook
News Source
β’Fri, 09 Oct 2026 18:05:12 GMT
π° What Happened
President Donald Trump has set up a committee to look into Federal Reserve governor Lisa Cook. He says she may have committed mortgage fraud.
A hearing will be held on 5 November. It will be closed to the public but written down and shared later. Cook can send a written statement of her own. Trump says he has the power to remove her.
π The Backstory
Trump has tried before to remove Cook. In June, the Supreme Court ruled that an earlier firing was not allowed.
Cook's lawyers say the White House is picking only facts that suit it. They say any problems were simple paperwork mistakes. They also say they doubt the hearing will be fair. The fight is likely to end up in court again.
π― Why It Matters
The Federal Reserve sets interest rates that affect loans, savings and prices. A fight over its leaders can worry markets and the public.
President Donald Trump has set up a committee to look into Federal Reserve governor Lisa Cook. He says she may have committed mortgage fraud.
A hearing will be held on 5 November. It will be closed to the public but written down and shared later. Cook can send a written statement of her own. Trump says he has the power to remove her.
Trump has tried before to remove Cook. In June, the Supreme Court ruled that an earlier firing was not allowed.
Cook's lawyers say the White House is picking only facts that suit it. They say any problems were simple paperwork mistakes. They also say they doubt the hearing will be fair. The fight is likely to end up in court again.
The Federal Reserve sets interest rates that affect loans, savings and prices. A fight over its leaders can worry markets and the public.