Trump establishes committee to investigate Federal Reserve's Lisa Cook in latest effort to fire her

President Donald Trump has launched a new attempt to remove Federal Reserve Governor Lisa Cook, creating a "committee of inquiry" to examine claims that she made false statements on mortgage applications. PBS NewsHour reports that a nonpublic White House hearing is set for Nov. 5, with a transcript to be released afterward, and Trump's memo says Cook must attend. The step is likely to revive worries about the central bank's independence, especially since the Fed, under Chairman Kevin Warsh, raised rates last month despite Trump's calls for cuts.

Three officials will sit on the panel: Kevin Hassett, Trump's chief economic adviser; Keith Sonderling, who heads the Office of Government Ethics on an acting basis; and Andrea Lucas, who leads the Equal Employment Opportunity Commission. Trump first tried to dismiss Cook in August 2025, alleging she listed two different homes as her primary residence in 2021 loan paperwork. She denies wrongdoing and has not been charged. Her lawyers, Abbe Lowell and Norman Eisen, are weighing whether she should appear, while questioning whether the process is sincere.

The Supreme Court ruled in June that Cook could stay, while leaving room for Trump to try again with notice and a chance to respond.

Summarized by PolitiKool from PBS NewsHour’s reporting. Read the full story at PBS NewsHour →