Key facts
- President Trump established a committee to investigate Federal Reserve Governor Lisa Cook.
- The committee will report to the President on whether there is 'cause' for removal.
- The notice establishing the committee was dated October 7.
US President Donald Trump announced the formation of a committee to investigate Federal Reserve Governor Lisa Cook, according to a notice posted on the White House website. The committee's mandate is to "investigate the allegations against Governor Cook and report to me whether there is 'cause' for Governor Cook’s removal." The notice establishing the committee was dated October 7. Trump stated that his job as President is to ensure laws are faithfully executed, including by removing subordinates who cannot be trusted to tell the truth and follow the law. This move follows Trump's long-standing efforts to remove Cook and his previous unsuccessful attempt to force the Federal Reserve to lower interest rates, which was blocked by the Supreme Court. The announcement comes after the Fed's inspector general found no grounds to reopen a criminal investigation into the Fed's headquarters renovations.