Trump escalates effort to fire Federal Reserve governor Lisa Cook
A commission that will report to the president will assess the mortgage fraud allegations against her and consider evidence from a hearing next month.

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A commission that will report to the president will assess the mortgage fraud allegations against her and consider evidence from a hearing next month.
President Trump said the White House would investigate unsubstantiated claims that Lisa D. Cook committed mortgage fraud and hold a hearing next month.

Federal Reserve governor Lisa Cook says the Trump administration has no legal basis to remove her from the central bank's governing board

The decision, seen as a win for central bank independence, sends the fight over removal back to the lower courts.

The Trump administration wants to remove the board member of the powerful central bank before a key meeting this week on setting interest rates.
The documents, first reported by Reuters on Friday evening, come as Trump is pushing to fire Cook over unproven allegations of mortgage fraud.
A grand jury in Atlanta is looking into Cook.

Lisa Cook, who has not been charged with a crime, sought to retain her position, arguing her firing was "unprecedented and illegal.â€

Cook is the first Black woman to serve on the Federal Reserve board. She was appointed by President Joe Biden.
The action could cause investors to question the independence of the U.S. central bank and face legal obstacles.
The president's call appears to be his latest effort to influence the central bank board as he demands lower interest rates.
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