President Donald Trump has signed an order directing the attorney general and other top federal officials to establish a committee to investigate Federal Reserve Governor Lisa Cook, marking his latest attempt to remove her from office [1]. The presidential memorandum, posted to the White House website, states that the committee will investigate allegations that Cook made false statements in connection with one or more mortgage instruments and will report to the president on whether there is 'cause' for her removal [1].
Governor Cook is permitted to submit a written position statement to the committee regarding the allegations, and the memorandum specifies that she must appear at a hearing, present arguments, written evidence, and witness statements [1]. The committee is scheduled to meet on November 5, two days after the midterm elections. Notably, no president has ever fired a top Federal Reserve official before [1].
Cook's attorneys, Abbe Lowell and Norm Eisen, expressed skepticism about the legitimacy of the hearing, citing President Trump's repeated statements that he has already decided to fire Governor Cook regardless of the facts and evidence. They stated, 'if it is anything close to objective, the conclusion will be that Governor Cook did not commit mortgage fraud, leaving no cause to remove her from the Federal Reserve Board' [1]. Cook's legal team has engaged with the White House to determine the genuineness of the process and indicated that Cook welcomes the opportunity to clear her name [1].
This move follows a Supreme Court ruling in June that allowed Cook to remain in her position for the time being, but did not permanently block Trump from removing her, instead affirming her right to defend herself [1]. The allegations against Cook originated in August 2025 from Federal Housing Finance Agency chief Bill Pulte, who accused her of mortgage fraud. Trump amplified these allegations on social media and cited a 'criminal referral' from Pulte to the Justice Department as grounds for his removal attempt [1].
CONCLUSION
President Trump's order to investigate Fed Governor Lisa Cook represents an unprecedented challenge to the independence of the Federal Reserve. The outcome of the committee's inquiry, scheduled for November 5, could have significant implications for the central bank's leadership and market stability.