The White House announced that a three-member panel, featuring economic adviser Kevin Hassett and the acting director of the Office of Government Ethics, will convene at the White House on November 5. The committee intends to review claims that Cook provided false statements regarding mortgage instruments—allegations the governor has consistently denied. Cook’s legal counsel, Abbe Lowell and Norm Eisen, expressed significant skepticism regarding the legality of the proceedings, characterizing the hearing as a potential box-checking exercise rather than a genuine inquiry.
Warren Blasts Trump’s Inquiry Into Fed Governor Lisa Cook
Senator Elizabeth Warren has condemned the White House’s decision to form a committee of inquiry into Federal Reserve Governor Lisa Cook, labeling the move an illegitimate show trial. The panel, tasked with investigating alleged mortgage fraud, represents the latest attempt by the administration to secure control over the central bank.
This confrontation follows a previous attempt by the president to remove the Fed governor, which was halted by the Supreme Court. Federal law mandates that members of the Board of Governors can only be terminated for cause, a standard critics argue the administration is attempting to circumvent through manufactured fraud allegations. Senate Minority Leader Chuck Schumer joined Warren in the criticism, asserting that the inquiry serves as a political maneuver to undermine the independence of the Federal Reserve rather than a legitimate ethical investigation.
Comments (0)
No comments yet. Be the first!