Establishment of a Committee of Inquiry To Investigate Allegations of False Statements by Lisa DeNell Cook
What happened
Donald Trump signed a memorandum establishing a committee of inquiry to investigate allegations that Federal Reserve Governor Lisa D. Cook made false statements regarding mortgage instruments. The committee, which includes the Assistant to the President for Economic Policy, the Chairman of the EEOC, and the Director of the Office of Government Ethics, will examine whether there is "cause" for removal. A closed four-hour White House hearing is set for November 5, 2026, after which the committee will submit findings of fact and recommendations.
Why it matters
The inquiry will evaluate evidence to formally recommend whether the President should remove a sitting member of the Board of Governors of the Federal Reserve. It establishes specific evidentiary and hearing procedures to determine if lawful "cause" for removal exists under federal statute.
Who it affects
- ›Federal Reserve Governor Lisa D. Cook
- ›The Board of Governors of the Federal Reserve
- ›Members of the newly established committee of inquiry
- ›Department of Justice personnel assisting the inquiry
The receipts are official. The summary is ours.
Read on Federal Register ↗Summaries are generated from the official text and may simplify or omit nuance. The official document is the source of truth.