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Posted on 10/09/2026 7:31:54 AM PDT by Miami Rebel
President Donald Trump formally established a “committee of inquiry” to investigate allegations that Federal Reserve Governor Lisa Cook made false statements related to “one or more mortgage instruments,” the White House announced Friday.
The extraordinary announcement is the latest development in Trump’s long-running effort to fire Cook, a nominee of former President Joe Biden, from the central bank’s board. Trump, who frequently urges the Fed to lower interest rates, recently said the failure to do so by his handpicked chair Kevin Warsh is the fault of a “hostile” board.
The committee comprises three executive branch officials, including Kevin Hassett, Trump’s top economic aide and a chief defender of the administration’s economic record, according to a presidential memorandum posted on the White House website and shared Friday on social media.
The other two members are Keith Sonderling, acting head of the Office of Government Ethics, and Equal Employment Opportunity Commission Chair Andrea Lucas, according to the notice, which is dated Wednesday. No outside, independent arbiters are mentioned.
The Fed and Cook’s attorney did not immediately respond to CNBC’s requests for comment on Trump’s memorandum.
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The incessant focus of the administration has been to mandate a lower-rate Fed, yet now with a new chair, rates have gone up and will probably continue to go up. Under new Chair Warsh, the Fed acted unanimously to hike. Getting rid of one of seven governors (which is a very, very long shot) would not move the needle.
Trump is a big spender focused on the short term [others have observed “in the long run we are all dead”] and inflates Inflation, but wants lower rates.
He has a bit of internal discord.
“We’re the hottest country” doesn’t translate into lower rates.
It’s about punishing an enemy, not moving a needle.
I’m unclear on how dropping overnight rates are going to help the 10-year rate.
Lawfare was wrong when they did it against Trump.
He’s doing the same thing here.
It’s wrong
so we should just do nothing? They started it, now they get a taste of their own medicine. Maybe next time they’ll think twice about doing it
They will beat you every time if they are the only ones cheating
Lisa Cook.
Who is they?
This gal didn’t participate in the lawfare against Trump.
And what you do is the right thing.
Acting badly because your opponents act badly makes a person exactly like them.
Trump’s a smart guy and he should know this.
More junior high school nonsense from this crew. DEPORT MILLIONS AND DO IT FAST.
Turnabout is always fair play.
L
ANOTHER LETICIA JAMES MORTGAGE HOLDER???
“ Turnabout is always fair play.”
Being ethical is fair play . Ethical doesn’t mean weak.
Think of George Washington turning down those who wanted to make him a king. He did what was right.
Trump has no moral high ground over those who brought lawfare against him by doing this.
He is who they are.
Marquis of Queensbury rules went out of the window when they started acting like this. We’re now in a knife fight in a phone booth, so you’d better start acting like it. She’s one of them, so she gets the same treatment Gen Mike Flyn got.
By saying that you have given up on our republic and self governance .
Because a opponent is immoral doesn’t mean we have to be immoral
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