Trump launches probe into Federal Reserve Governor Lisa Cook

What the report says

US President Donald Trump has moved to intensify his effort to remove Federal Reserve Governor Lisa Cook, announcing a three-member committee to examine whether allegations tied to mortgage documents amount to legal grounds for her dismissal. According to Al Jazeera, the White House posted the notice later than the announcement, and the panel is expected to review evidence and advise the president on whether “cause” exists under federal law.

The committee will include the president’s economic policy aide, the chair of the Equal Employment Opportunity Commission and the director of the Office of Government Ethics. The notice also sets a hearing for November 5, when Cook is required to appear and respond to questions. Al Jazeera reported that the action follows earlier accusations made by Federal Housing Finance Agency Director Bill Pulte that Cook misrepresented details about two properties on a 2021 mortgage application.

Cook, who joined the Fed Board in 2022 and is due to serve until 2038, has already challenged Trump’s attempt to oust her. A federal judge blocked her firing in September 2025, and the Supreme Court later declined to let Trump remove her while litigation continues. The broader dispute has become part of Trump’s wider pressure campaign on the central bank, which he has pushed to lower interest rates. The case matters because it tests the limits of presidential power over the Federal Reserve and could affect perceptions of the central bank’s independence.