Federal Reserve Board Governor Lisa Cook participates in a board meeting at the Federal Reserve on March 19, 2026 in Washington, DC.
Kevin Dietsch | Getty Images
President Donald Trump formally established a “committee of inquiry” to investigate allegations that Federal Reserve Governor Lisa Cook made false statements related to “one or more mortgage instruments,” the White House announced Friday.
The extraordinary announcement is the latest development in Trump’s long-running effort to fire Cook, a nominee of former President Joe Biden, from the central bank’s board.
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