President Donald Trump has established a committee to investigate Federal Reserve Governor Lisa Cook regarding allegations that she made false statements on mortgage documents, accusations that Trump has referenced for over a year in his efforts to remove her from office [1]. Trump previously attempted to remove Cook in August 2025, which led to a protracted legal dispute. The Supreme Court ultimately blocked her firing in June 2026, ruling in a 5-4 decision that Cook had not been given sufficient time to respond to the allegations [1].
The newly-formed committee is intended to provide Cook with an opportunity to defend herself. She is permitted to submit a written statement at least three days before her first scheduled hearing on November 5, 2026. The hearing, to be held at the White House and lasting no more than four hours, will allow Cook to present arguments, written evidence, and witness statements. Department of Justice lawyers will question her, and the hearing will be closed to the public but transcribed [1].
The committee will include three White House staffers, among them National Economic Council director Kevin Hassett. After the hearing, Cook is expected to submit another written statement, after which the committee will make a recommendation to President Trump on whether there is sufficient cause to remove her from her position [1].
The White House renewed its effort to dismiss Cook in August, giving her 21 days to respond to the allegations. Cook's attorneys submitted a letter on August 26 denying any mortgage fraud. The White House claims Cook identified homes in Atlanta and Michigan as her primary residence on separate mortgage agreements and later rented out the Atlanta property. Cook's attorney contends the Atlanta designation was an inadvertent mistake, asserting that she sought financing for it as a vacation home and consistently identified Michigan as her primary or permanent residence [1].
CONCLUSION
The formation of a committee to investigate Fed Governor Lisa Cook marks a significant escalation in the ongoing dispute between the White House and Cook. The outcome of the committee's review could have implications for the Federal Reserve's leadership and policy continuity, though the process is still in its early stages.