Trump Forms Committee to Investigate Fed Governor Lisa Cook

President Donald Trump has established a committee to investigate allegations that Federal Reserve Governor Lisa Cook made false statements in mortgage documents, escalating his effort to remove her from the central bank. The White House announced the move Friday, Oct. 9, 2026, with a presidential memorandum requiring Cook to appear before the panel for questioning.

According to the White House memorandum, the inquiry concerns alleged misrepresentations connected with one or more mortgage instruments. A hearing is scheduled for Nov. 5 at the White House, where Cook is required to answer the committee's questions. The proceeding will not be open to the public, but officials said a transcript will be published.

The committee consists of three executive branch officials: Kevin Hassett, Trump's top economic adviser; Keith Sonderling, acting head of the Office of Government Ethics; and Andrea Lucas, chair of the Equal Employment Opportunity Commission. The memorandum does not identify any independent, outside members of the panel.

Trump framed the investigation as part of his responsibility to enforce federal law and hold government officials accountable.

"As President, it is my job to ensure the laws are faithfully executed, including by firing subordinates who cannot be trusted to tell the truth and follow the law," Trump wrote in the memorandum.

The inquiry marks another attempt by Trump to remove Cook, who was nominated to the Federal Reserve Board by former President Joe Biden. The president previously sought to dismiss her last year, but the Supreme Court ruled in June that she could remain in her position.

The Supreme Court's decision included a footnote stating that the ruling did not prevent Trump from trying again if Cook received proper notice and an opportunity to respond to the allegations. The new committee proceeding follows that ruling, although the allegations have not resulted in criminal charges against Cook.

Cook has denied wrongdoing and has not been charged with a crime. Her attorney and the Federal Reserve did not immediately respond to requests for comment on the new memorandum, according to CNBC.

The investigation also unfolds amid a broader dispute over the Federal Reserve's interest-rate policy and its independence from the White House. Trump has repeatedly urged the central bank to lower borrowing costs, while criticizing officials responsible for monetary policy decisions.

Last month, the Federal Reserve raised its key interest rate, according to the Associated Press report published by WRAL. The decision came on Sept. 16 and was unanimous among the voting participants, including Cook, who is one of 12 voting members of the rate-setting committee, which comprises 19 officials in total.

Trump and members of his economic team have blamed the broader rate-setting committee for the increase. Trump has also criticized the central bank's leadership over its reluctance to lower rates, intensifying scrutiny of the institution as the next monetary policy meeting approaches.