lisa cook

Oct. 14, 2026 10:49 AM PT

WASHINGTON — Federal Reserve governor Lisa Cook’s lawyers say that a committee set up by the White House last week to investigate an accusation against her is “demonstrably biased,” though they did not close the door on the possibility that she would appear before the panel.

Lawyer Abbe Lowell also said in a letter Tuesday that Cook would not be able to participate in a hearing Nov. 5 because she “will be executing her official duties as Governor at financial and monetary policy meetings in Europe.”

The earliest that Cook could appear before a “committee of inquiry” that the White House set up last Friday would be after the Fed’s policy meeting Dec. 8-9, the letter said. The letter was sent to William Scharf, a counsel to President Trump.

Lowell’s comments are the latest turn in the Trump administration’s extended efforts to fire Cook from her position as one of seven members of the Fed’s board of governors. Trump has accused Cook of committing mortgage fraud in 2021, before she joined the board, a claim she has denied. No criminal charges have been filed.

No president has fired a Fed governor before, a reflection of the Fed’s traditional independence from politics. Yet Trump, who has repeatedly demanded that the central bank lower its key interest rate, has taken numerous steps that economists say have threatened that independence. The Justice Department earlier this year sought to investigate then-Chair Jerome Powell over brief testimony he had given about an extensive building renovation, though a judge threw out subpoenas in the case and it was later dropped.

Cook was appointed by former President Biden and is the first Black woman on the Fed’s board.

Trump first tried to fire Cook in August 2025, but the Supreme Court ruled earlier this year she could remain in her position while litigation continued. The court also suggested, in a footnote to the ruling, that Trump could try again to fire her if the administration provided her adequate notice and an opportunity to respond. The committee of inquiry announced by the White House last Friday is an effort to meet those conditions.

Under the law governing the Fed, the president can only fire a Fed governor “for cause,” but the Supreme Court didn’t address whether Cook’s actions met that standard. The committee of inquiry will ultimately recommend whether there is cause to fire Cook, a White House memo last week said.

Lowell also said in the Tuesday letter that “we have significant concerns regarding the objectivity and fitness of the committee for its assigned purpose.”

One of its three members, Kevin Hassett, a top economic adviser to Trump, has already said the president has “cause” to fire Cook, the letter noted. The other two members — Labor Secretary Keith Sonderling and chair of the Equal Employment Opportunity Commission Andrea Rich — are also Trump appointees.

“A hearing with demonstrably biased members, unspecified additional allegations, and an unclear schedule for the disclosure of any additional evidence – with no explanation for why it was not previously produced – is not a process that respects the appearance or history of independence,” Lowell’s letter said.

Rugaber writes for the Associated Press.

Oct. 9, 2026 8:06 AM PT

WASHINGTON — 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.