Trump launches investigation into Fed's Lisa Cook
US President Donald Trump has established a special committee to investigate allegations that Federal Reserve Governor Lisa Cook made false statements in mortgage applications.
The White House announced that the committee would examine whether there are legal grounds for removing Cook from office. A closed-door hearing is scheduled to take place at the White House on November 5 as part of the investigation.
Cook will have until November 10 to submit a written defense. Trump's previous attempt to remove Cook was challenged in court, and the US Supreme Court ruled in June that she could remain in her position. Cook's attorneys have denied the allegations and raised concerns about the legal impartiality of the new investigation. The development has renewed debate over the Federal Reserve's independence.
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