Donald Trump Launches Investigation to Remove Fed Governor Lisa Cook, Sets November Hearing

President Donald Trump has launched a fresh effort to remove Federal Reserve Governor Lisa Cook, establishing a new investigative committee as their bitter legal battle over her future at the nation's central bank continues, OK! can reveal.

The White House's latest maneuver centers on a presidential memorandum establishing a formal investigation into Cook, who has resisted Trump's previous attempt to fire her over allegations involving mortgage applications.

The move sets the stage for a closed-door hearing scheduled for November 5, potentially opening another chapter in the extraordinary confrontation between the president and a sitting Federal Reserve official.

According to the October 7 memorandum published by the White House and reviewed by OK!, Trump has directed a three-member committee to determine whether there is legal cause to remove Cook from the Federal Reserve's powerful Board of Governors.

The committee will consist of senior administration officials, including White House economic adviser Kevin Hassett, Equal Employment Opportunity Commission Chairman Keith Sonderling, and Office of Government Ethics Director Andrea Lucas.

Cook is required to appear in person at the White House, where the hearing will last no longer than four hours. The proceedings will be closed to the public, although a transcript must be prepared.

Trump's memorandum states the committee may question Cook directly, examine evidence, and seek assistance from Justice Department personnel.

The president also declared: "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."

Cook may submit written arguments and evidence, but she must also comply with appropriate requests for documents. The confrontation stems from allegations that Cook made false statements on mortgage applications involving properties she owned.

Trump previously attempted to dismiss the Joe Biden-appointed official in 2025, arguing that the accusations provided sufficient grounds for her removal.

Cook has denied wrongdoing and has not been charged with a crime. Her attorneys challenged Trump's decision in federal court, arguing that the president lacked sufficient legal grounds to remove her from a position designed to operate independently of political pressure.

The dispute ultimately reached the Supreme Court, which ruled in June that Cook could remain in her position while her legal challenge continued. The justices emphasized the importance of providing notice and an opportunity to respond before removing a Federal Reserve governor.

The new committee will examine whether the mortgage allegations meet the legal standard for removal under federal law.

Cook's attorneys have questioned the legitimacy of the process, arguing that Trump's previous statements raise concerns about whether the investigation can be impartial.

Under the memorandum, Cook has until November 10 to submit a final written response following the hearing.

The committee must then deliver its findings and legal conclusions directly to Trump, along with a recommendation on whether she should be fired.

For now, Cook remains in her position as the White House prepares for its next legal showdown.