Summary
President Donald Trump has ordered a special committee to investigate Federal Reserve Governor Lisa Cook over mortgage fraud allegations she denies. The committee will hold a closed hearing on November 5 to examine the charges and decide if there is cause to remove her from the Federal Reserve.Key Facts
- President Trump created a three-person committee to investigate Lisa Cook.
- Cook faces mortgage fraud allegations, which she denies.
- The committee will hold a private hearing with Cook on November 5.
- No president before Trump has tried to remove a Federal Reserve governor in the central bank’s 112-year history.
- The law allows removing a governor “for cause,” but it does not explain what that means.
- The committee includes Trump adviser Kevin Hassett, EEOC Chair Andrea Lucas, and Office of Government Ethics Acting Director Keith Sonderling.
- The committee must give written findings and a recommendation to Trump.
- Cook previously sued Trump to stop her firing after the Supreme Court ruled she must have a chance to respond to the charges.
