Trump Sets Nov. 5 Hearing for Fed's Lisa Cook as Rate Dispute Shadows Fraud Claims
Updated
Updated · The New York Times · Oct 14
Trump Sets Nov. 5 Hearing for Fed's Lisa Cook as Rate Dispute Shadows Fraud Claims
3 articles · Updated · The New York Times · Oct 14
Summary
Nov. 5 is the date the White House set to question Fed Governor Lisa D. Cook over unproven mortgage fraud allegations tied to two homes listed as primary residences.
Trump made clear he also wants Cook out because she is “an automatic no vote” on the sharply lower interest rates he wants, underscoring the political stakes around the inquiry.
Cook’s lawyers say one mortgage designation was an inadvertent oversight, not fraud, and argue records show the property was otherwise classified appropriately.
Cook will not attend the hearing because of a scheduling conflict, her lawyers said, while also challenging the legitimacy of the Trump-created panel staffed by close allies.
The case has become Trump’s latest test of Fed independence as he presses to remove a sitting governor he has targeted since August last year.