# Trump's committee to decide on firing Fed's Lisa Cook

> President Trump created a three-person committee to recommend whether he has cause to fire Federal Reserve Governor Lisa Cook over mortgage fraud allegations she denies.
- Title: Trump's committee to decide on firing Fed's Lisa Cook · CNBC
- Summary: President Trump created a three-person committee to recommend whether he has cause to fire Federal Reserve Governor Lisa Cook over mortgage fraud allegations…
- Keywords: lisa cook, federal reserve, donald trump, mortgage fraud, committee of inquiry, supreme court, fed governors, business, finance, Trump's, committee, decide
- Source: CNBC — https://cnbc.com/2026/10/09/trump-lisa-cook-fed-firing-committee-explained.html
- Author: Matt Peterson,Luke Fountain
- Published: 2026-10-09T18:20:57+00:00
- Read time: 2 min
- Topics: lisa cook, federal reserve, donald trump, mortgage fraud, committee of inquiry, supreme court, fed governors, business, finance
## Trump forms committee on Cook
President Donald Trump created a three-person committee to recommend whether he has cause to fire Federal Reserve Governor Lisa Cook over mortgage fraud allegations she denies.
## Cook's previous firing attempt
Trump accused Cook of mortgage fraud and ordered her fired in twenty twenty-five. The Supreme Court blocked that effort on procedural grounds but said he could try again.
## Cook's response to Trump
Cook's attorneys denied the fraud allegations in August twenty twenty-five, saying Trump had no cause to remove her from the Federal Reserve.
## Committee hearing scheduled
Cook is expected to attend a hearing at the White House on November fifth. She can bring an attorney and will have until November tenth to follow up after proceedings.
## Who sits on the committee
Trump appointed Kevin Hassett, director of the National Economic Council; Keith Sonderling, acting director of the Office of Government Ethics and Labor secretary; and Andrea R. Lucas, chair of the Equal Employment Opportunity Commission.
## Historical precedent for committee
President William Howard Taft in nineteen twelve convened a similar committee of inquiry to consider removal of two Board of General Appraisers members. The committee recommended their removal.
## Cook's attorneys express doubts
Cook's attorneys Abbe Lowell and Norm Eisen said she welcomes presenting facts to clear her name. They stated they have grave doubts the hearing is legitimate and would conform to law.

> have grave doubts that this 'hearing' is a legitimate one that would conform to the law
## Committee not independent
The committee comprises executive branch appointees who report to the president. They are not impartial members of the judicial branch, though required to hear Cook's point of view.
## Criminal exposure for Cook
The order allows Justice Department officials to question Cook, but does not say whether answers would be protected from use in a later criminal case. Her testimony may expose her to criminal jeopardy.
## Committee makes recommendation only
The committee will recommend to Trump whether there is cause to fire Cook. Trump makes the final decision, which will likely trigger another court fight before the Supreme Court.
## Cook continues Fed duties
Cook is expected to participate in the Federal Reserve's interest rate vote scheduled for October twenty-eighth. She remains a member in good standing of the Fed during the committee process.
## Supreme Court will likely review again
Should Trump proceed with firing Cook after the hearing, the decision will likely end up before the Supreme Court again. That process could take months to resolve.
## Key takeaway

Trump formed a committee to recommend whether he can fire Federal Reserve Governor Lisa Cook over mortgage fraud allegations. Cook will testify November fifth, but the process faces questions about independence and her legal exposure.