President Donald Trump moved to fire Federal Reserve governor Lisa Cook in August 2025, but the Supreme Court struck down the move in June this year
In a renewed effort to remove Lisa Cook from the central bank’s Board of Governors, President Donald Trump is forming a “committee of inquiry” to investigate allegations that she misrepresented information on mortgage applications.
The newly formed panel will hold a closed hearing on November 5 and submit recommendations to the president.
Trump moved to fire Cook in August 2025, but the Supreme Court struck down the move in June this year, citing the administration’s lack of due legal process before dismissing her.
Cook’s lawyers maintain she committed no fraud beyond mistakenly listing two primary residences.
The inquiry reignites concerns regarding central bank independence under the Trump administration. Cook’s term runs until 2038.