The White House announced the formation of a 'committee of inquiry' to look into allegations that Federal Reserve Governor Lisa Cook made false statements regarding mortgage instruments. This move is part of Trump's ongoing campaign to remove Cook, who was nominated by former President Biden.
Trump has been vocal about his dissatisfaction with the Fed's interest rate policies, blaming the board for the chair's failure to lower rates. The committee includes three officials from the executive branch, with no independent members mentioned, raising concerns about the impartiality of the investigation.
The Fed and Cook's attorney have not commented on the situation, leaving uncertainty about the implications for Cook's position and the Fed's future policy decisions