Trump Forms Committee to Investigate Fed Governor Lisa Cook

President Donald Trump's new inquiry follows an unsuccessful attempt to remove Federal Reserve Governor Lisa Cook. CNBC reported that Cook was a nominee of former President Joe Biden and that the Supreme Court blocked Trump's first attempt to fire her.

The court rebuffed the president in June, according to the Financial Times. That setback is the backdrop to the committee announced on October 9.

In June, the Supreme Court rejected Trump's attempt to sack Cook, the Financial Times reported. The supplied coverage does not give the precise date of that decision.

On October 9, Trump established a committee to investigate Cook. NBC News described the move as his latest attempt to fire the Fed governor.

The committee's stated focus is whether Cook made false statements in connection with one or more mortgage instruments, according to The Hill. That is a narrower subject than a general review of her decisions at the Federal Reserve.

Trump also said the White House would investigate claims that Cook committed mortgage fraud and hold a hearing next month, The New York Times reported. The newspaper described those claims as unsubstantiated.

The committee has been established, but the supplied reports describe no findings from it. The New York Times characterizes the mortgage fraud claims as unsubstantiated, so the allegations should not be treated as proven wrongdoing.

The inquiry is a renewed effort to oust Cook, according to NBC News. Its creation does not itself resolve the removal dispute that previously reached the Supreme Court.

The next announced step is a hearing in November, according to The New York Times. The supplied coverage does not specify a hearing date, the committee's membership or what evidence it will consider.

The central open questions are what the inquiry establishes about the mortgage allegations and how Trump uses its findings in his renewed effort to remove Cook.