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Trump establishes committee to investigate Federal Reserve’s Lisa Cook in latest effort to fire her

Christopher RugaberAP Economics Writer 

President Trump opened another chapter in his effort to fire Federal Reserve Governor Lisa Cook Friday by establishing a “committee of inquiry” to investigate allegations that she made false statements in mortgage applications.

The inquiry will include a hearing at the White House Nov. 5, Trump said in a written memo, that Cook “shall” attend to answer questions from the committee. The hearing wouldn’t be public but a transcript would be published, the memo said.

Trump’s extraordinary demand that Cook testify before the committee will likely renew concerns about threats to the Federal Reserve’s independence as the president demands the central bank cut its key interest rate. Just last month, the Fed raised its key rate instead, led by Chairman Kevin Warsh, whom Trump appointed earlier this year.

“As President, it is my job to ensure the laws are faithfully executed, including by firing subordinates who cannot be trusted to tell the truth and follow the law,” Trump wrote in the memorandum.

Trump and some of his economic advisers have blamed the Fed’s broader rate-setting committee, which includes 12 voting members and 19 officials in total, for the rate hike. Cook is one of the 12 participants on the committee that votes on interest-rate decisions. The vote to lift rates Sept. 16 was unanimous.

The move follows a Supreme Court ruling in June that Cook could keep her job after Trump sought to fire her last year. That ruling included a footnote that said nothing prevented Trump from “trying again” as long as she was given proper notice and an opportunity to respond to the charges.

Cook has denied any wrongdoing and has not been charged with a crime.

Rugaber writes for the Associated Press.

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California establishes Dolly Parton Day on Sept. 25

Deborah DayAssistant Editor, Fast Break Desk 

The Queen of Country is being honored with a special day on Californians’ calendars.

Gov. Gavin Newsom signed legislation Sunday that establishes Sept. 25 as Dolly Parton Day. The date’s significance may be obvious to fans of the late country legend: 9-2-5 references Parton’s hit single “9 to 5” from the soundtrack of the 1980 comedy film of the same name that starred Parton, Jane Fonda and Lily Tomlin.

“Dolly Parton was an icon,” Newsom said in a video accompanied by his wife, Jennifer Siebel Newsom, announcing the bill’s passage. “Dolly was larger than life with big hair and a bigger heart. People around the world have been touched by her music, by her philanthropy, and by her humor.”

Parton died Aug. 25 at 80 years old following a battle with cancer. The beloved songwriter, recording artist, actor and businesswoman was an honored musician, earning 10 Grammy Awards and 10 Country Music Assn. Awards, as well as two Academy Award nominations and a Primetime Emmy. She was the recipient of the National Medal of the Arts in 2005 and the Kennedy Center for the Arts Award in 2006. Parton was also inducted into the Country Music Hall of Fame in 1999 and the Rock & Roll Hall of Fame in 2022.

“Her legacy goes well beyond her music,” Sen. John Laird (D-Santa Cruz), who co-authored the bill with Sen. Shannon Grove (R-Bakersfield), said in a statement. “Through the Imagination Library, she put books into the hands of millions of children, and throughout her life she led with kindness, acceptance, and a belief that everyone deserves to be treated with dignity and respect. She was also no stranger to the Central Coast, where she performed for packed crowds and spent time over the years. Now, every 9-2-5, California gets to celebrate Dolly and the remarkable legacy she shared with all of us.”

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