White House hearing on Fed's Cook delayed to December, Hassett says
TLT•Kevin Hassett said the White House delayed a planned hearing on allegations of mortgage fraud by Federal Reserve Governor Lisa Cook until December. Cook's lawyers declined to confirm that a date had been agreed.
1. Hearing date uncertain
Hassett said the White House and Cook's team had agreed to meet in December to discuss the allegations. A spokeswoman for Cook's lawyer did not confirm a new date; the lawyer had previously said Cook would not be available until after the Fed's December 8-9 policy meeting.
2. Trump's effort to remove Cook
Trump announced a fresh investigation last month and initially set a November 5 hearing date. The Supreme Court ruled in June that Trump cannot fire Cook at will, but may be able to remove her if he gives her a chance to defend herself against evidence he believes shows cause.
3. Fed policy dispute
Cook has denied wrongdoing and said Trump's accusations are a pretense to remove her because he wants the Fed to cut rates. She dissented this week when the Fed left rates steady, preferring another rate hike to curb inflation. Hassett is on the three-person committee investigating Cook and recommending whether she should be fired.
