White House Escalates Campaign Against Fed Governor
According to a White House statement issued Friday, President Donald Trump is intensifying his push to remove Federal Reserve Governor Lisa Cook by establishing a committee of inquiry. The panel will examine claims that Cook made untrue statements tied to at least one mortgage instrument. This marks the newest step in Trump's broader campaign to alter the central bank's membership.[S1][S5][S6]
Word of the inquiry committee arrived only weeks before the Fed is set to hold its next monetary policy meeting. During last month's gathering, officials were unanimous in voting to raise interest rates, a move Trump has strongly criticized. The scheduling highlights the growing political strain on the central bank as it carries out economic policy.[S1]
