Fed Governor Lisa Cook's lawyers call the committee Trump set up to investigate Cook 'biased'

Summary

President Donald Trump has established a 'committee of inquiry' to investigate allegations that Federal Reserve Governor Lisa Cook made false statements in mortgage applications, opening another chapter in the president's effort to fire Cook, The Philadelphia Inquirer reported on Friday 9 October. The inquiry will include a hearing at the White House on Nov. 5 that Cook 'shall' attend to answer questions from the committee, Trump said in a written memo, and the hearing would not be public but a transcript would be published, according to the LA Times. Trump tried to fire Cook, a nominee of former President Joe Biden, but the Supreme Court blocked the first attempt, CNBC reported, adding that Trump's bid could affect Jerome Powell, central bank independence and interest rates. A lawyer for Lisa Cook raised 'significant concerns' over the 'objectivity and fitness of the committee', The New York Times reported on October 13, and according to Bloomberg, Lisa Cook says attending the Nov. 5 hearing at the White House will not be possible. On October 14, Cook's lawyers said the committee is 'demonstrably biased', though the lawyers did not close the door on the possibility that Cook would appear before the panel, The Philadelphia Inquirer reported.

Latest: Cook's lawyers said the committee set up by the White House is 'demonstrably biased', though the lawyers did not close the door on Cook appearing before the panel, and according to Bloomberg, Lisa Cook says attending the Nov. 5 hearing will not be possible.

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