President Trump said the White House would investigate unsubstantiated claims that Lisa D. Cook committed mortgage fraud. He also said a hearing on the matter would be held next month.
The announcement places a sitting member of the Federal Reserve's Board of Governors at the center of a politically charged inquiry. Cook has not been charged with any crime, and the claims that prompted the review have not been substantiated in public reporting so far.
The move raises questions about the independence of the central bank, which is designed to operate free from direct political pressure on interest rate decisions. Officials and analysts have long argued that the Fed's credibility depends on insulating its governors from short-term political disputes.
It was not immediately clear what form the White House review would take, who would lead it, or what standard would be used to judge the allegations. Details about the planned hearing, including its format and participants, were also not yet available. The New York Times reported the announcement as part of its top stories coverage.
Source: New York Times Top Stories · Summarized by HeadlinesBriefing