Trump Forms Inquiry Committee to Investigate Federal Reserve Governor Lisa Cook
President Trump establishes a committee to examine allegations of mortgage fraud and false statements against Fed Governor Lisa Cook, marking an escalation of his efforts to remove her from the board.
President Trump has announced the formation of a "committee of inquiry" to investigate Federal Reserve Governor Lisa Cook, following accusations of mortgage fraud and making false statements. The move represents a significant escalation in Trump's attempts to remove Cook, a nominee of former President Joe Biden, from her position.
In a statement dated October 7 and shared on Friday, Trump asserted his responsibility to ensure laws are faithfully executed, particularly by "subordinates who cannot be trusted to tell the truth and follow the law." The committee's mandate is to "investigate the allegations against Governor Cook and report to me whether there is ‘cause’ for Governor Cook’s removal."
This action follows the Supreme Court's June ruling that blocked Trump's previous attempt to dismiss Cook, which he described as being "sent back by the Supreme Court on a strictly procedural basis."
Trump initially sought to remove Cook on August 25, 2025, after Federal Housing Finance Agency Director Bill Pulte leveled accusations of mortgage fraud against her. Governor Cook has denied all allegations and filed a lawsuit to prevent her removal.
