White House Said to Schedule December 14 Hearing on Federal Reserve Governor Cook Allegations

Deep News08:05

According to an unnamed White House official, the White House has scheduled a hearing for December 14 regarding allegations of mortgage fraud against Federal Reserve Governor Lisa Cook, marking a new phase in U.S. President Trump's effort to remove her from office.

Trump has been attempting to dismiss Cook for over a year, one of several "unprecedented" moves during his presidency aimed at tightening his control over the Federal Reserve.

Previously, no U.S. president had ever removed a Federal Reserve official. Cook has denied any wrongdoing.

The U.S. Supreme Court ruled in June that Trump cannot fire a Federal Reserve governor "at will," but he may be able to do so if he gives the individual an opportunity to defend herself.

Trump's chief economic adviser, Kevin Hassett, said last week that Cook's lawyers have agreed to a "fair hearing" in December.

Hassett is one of three members of a committee Trump established to hold the hearing and recommend whether Cook should be dismissed.

Cook's lawyer, Abbe Lowell, informed the White House last month that Cook could not attend the previously announced November 5 hearing and would be unavailable until after the Federal Reserve's policy-setting meeting on December 8-9.

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