Key facts
- White House hearing on Fed Governor Lisa Cook's alleged mortgage fraud delayed to December.
- Cook and her lawyer deny any wrongdoing.
- President Trump has sought to remove Cook from the Fed for over a year.
- A Supreme Court ruling stated Trump cannot fire Cook 'at will' but may if 'cause' is shown.
- Cook dissented on the Fed's decision to hold rates steady, favoring a hike.
The White House has postponed a hearing into allegations of mortgage fraud against Federal Reserve Governor Lisa Cook until December, according to top economic advisor Kevin Hassett. Hassett told Bloomberg TV that the White House counsel has worked with Cook's representatives to agree on a December meeting to discuss the allegations. Cook and her lawyer have denied any wrongdoing, with her legal team previously stating she would not be available until after the Fed's December 8-9 policy meeting. President Trump has been attempting to remove Cook from the Fed for over a year, citing 'cause' after a Supreme Court ruling that he cannot fire her 'at will'. Cook recently dissented on the Fed's decision to hold rates steady, advocating for a rate hike to combat inflation.