Cook challenges Trump probe as White House weighs Fed firing
What's next: Her lawyer said she cannot attend a Nov. 5 hearing and that the earliest date would be after the Fed's Dec. 8-9 meeting.
Federal Reserve Gov. Lisa Cook is challenging a new White House process that could lead to her removal, arguing the inquiry set up by President Donald Trump is biased and threatens the central bank's independence. In a letter reviewed by Reuters, Cook's lawyer Abbe Lowell objected to a three-member committee, noting that adviser Kevin Hassett had previously pushed Cook to take leave and suggested Trump had cause to fire her. Trump has sought for more than a year to oust Cook, who denies wrongdoing in mortgage fraud allegations and has sued to keep her post. Lowell said Cook cannot attend the Nov. 5 hearing because she will be in Europe for monetary policy meetings, and said the earliest she could appear is after the Fed's Dec. 8-9 meeting.