US President Donald Trump has formed a committee to investigate allegations against Federal Reserve Board member Lisa Cook over claims that she made false statements concerning mortgages, according to a notice published by the White House on Friday and dated October 7.
White House hearing
The notice said: "To assist me in discharging this responsibility, the committee will investigate the allegations against Federal Reserve Board member Cook and provide me with a report on whether there is cause for her removal."
The presidential memorandum stipulated that the committee hold an in-person hearing at the White House "to consider the evidence and allegations against Cook," with the hearing not to last more than four hours.
Earlier ruling keeps Cook in office
Trump tried to remove Cook a year ago. She is the first Black woman to serve on the board of the US central bank.
The US Supreme Court ruled that the president cannot remove a Federal Reserve Board member without sufficient cause and must follow clear procedures to explain the reasons and present evidence. The ruling kept Cook in office while referring the case against her to a federal district court.
