WASHINGTON (AP) — President Donald Trump opened another chapter in his effort to fire Federal Reserve Governor Lisa Cook Friday by establishing a “committee of inquiry” to investigate allegations that she made false statements in mortgage applications.
The inquiry will include a hearing at the White House Nov. 5, Trump said in a written memo, that Cook “shall” attend to answer questions from the committee. The hearing wouldn’t be public but a transcript would be published, the memo said.
Trump’s extraordinary demand that Cook testify before the committee will likely renew concerns about threats to the Federal Reserve’s independence. The president has called for the central bank to cut its key interest rate, but just last month, the Fed raised it instead, led by Chairman Kevin Warsh, whom Trump appointed earlier this year.
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