Trump creates committee to investigate Fed governor Lisa Cook over alleged mortgage irregularities
The panel will hold a hearing on November 5 at the White House to examine the allegations against the official, whom the U.S. president has attempted to remove from office.
Lisa Cook
President Donald Trump has established a committee to investigate Lisa Cook, a Federal Reserve (Fed) governor, over alleged false statements related to mortgages, in a new attempt to remove her from office.
According to a White House statement released on Friday, the committee will hold an in-person hearing on November 5 at the White House, which will last no more than four hours. The panel is expected to issue a recommendation on whether there are grounds to remove Cook from office.
The decision drew criticism from Elizabeth Warren, the top Democrat on the Senate Banking Committee, who accused Trump of staging "an illegitimate show trial" in an attempt to exert control over the U.S. central bank, whose independence is at the heart of the dispute.
"As president, it is my job to ensure the laws are faithfully executed, including by firing subordinates who cannot be trusted to tell the truth and follow the law," Trump stated in a declaration dated October 7.
Cook's attorneys expressed "serious doubts" about the legitimacy of the hearing and whether the proceedings will comply with the law. They argued that Trump has repeatedly stated that he has already decided to remove the governor.
A committee composed of Trump officials
According to the White House statement, Cook must appear before the committee and answer questions from its members and representatives, as well as from her legal counsel, if she has one.
The proceedings come months after the Supreme Court blocked Trump's attempt to remove Cook. At that time, the court noted that the president had not provided her with notice or the opportunity to respond to the allegations brought against her.
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