Fed Governor Lisa Cook Declines Trump-Led Hearing, Seeks Delay Until After December FOMC Meeting

Federal Reserve Governor Lisa Cook said she would be unable to attend a White House hearing scheduled for November 5 over mortgage fraud allegations raised by President Donald Trump.

Bloomberg reported on October 14 that Cook's attorney, Abbe Lowell, sent a letter to the White House that day saying Cook would be in Europe on official financial and monetary policy business on the hearing date. Lowell asked that the hearing be postponed until after the Federal Open Market Committee's December 8-9 meeting, citing existing commitments and the need for adequate preparation time.

Trump announced last week that he would form a committee to investigate the mortgage fraud allegations against Cook. He wants Cook to appear at a White House hearing and respond to the allegations directly. The move is widely viewed as a follow-up step by the Trump administration, which has been seeking her removal from the Federal Reserve Board.

Trump tried to remove Cook last year, but was blocked by the courts. Earlier this year, the U.S. Supreme Court said Cook had not been given sufficient advance notice or an adequate opportunity to respond. It did not lay out a specific removal process, leaving the White House to establish a separate procedure.

Cook has denied the mortgage fraud allegations. She argues they are being used as a pretext to remove her from the Fed and reshape the central bank's leadership. Lowell also challenged the fairness of the investigative committee. He specifically cited Kevin Hassett, director of the White House National Economic Council, noting that one of the three committee members had already publicly suggested there may be grounds to remove Cook.

The White House, by contrast, said the inquiry is proceeding through proper channels. White House spokesman Matthew Middleton said Trump "is carrying out his constitutional duty to assess Lisa Cook's conduct and her fitness to serve as a member of the Federal Reserve Board."

A White House official said the committee would conduct a fair and substantive hearing. Cook would be allowed to submit evidence, and the proceedings would be preserved as an official record.