White House sets hearing on Fed's Cook for December 14, reportedly
TLT•The White House scheduled a December 14 hearing into allegations of mortgage fraud by Federal Reserve Governor Lisa Cook, the New York Times reportedly said, citing an unnamed White House official.
1. Hearing scheduled
The White House scheduled a December 14 hearing into allegations of mortgage fraud by Federal Reserve Governor Lisa Cook, the New York Times reportedly said, citing an unnamed White House official. Cook denies wrongdoing, and her lawyer previously questioned the hearing's fairness.
2. Effort to remove Cook
President Donald Trump has been trying to fire Cook for more than a year. The Supreme Court ruled in June that Trump cannot fire a Fed governor at will, but may be able to do so if she has a chance to defend herself.
3. Hearing process
Trump formed a three-person committee to hold the hearing and recommend whether Cook should be fired. His top economic aide, Kevin Hassett, said last week that Cook's lawyers had agreed to a December date for what he described as a fair hearing. Cook's lawyer had said she was unavailable for the initially announced November 5 date and could not attend until after the Fed's December 8-9 policy-setting meeting.
