US president renews his efforts to oust Cook despite supreme court ruling that her firing was unconstitutional

Donald Trump announced on Friday that he is establishing a committee to investigate Lisa Cook, the US Federal Reserve governor, over allegations that she committed mortgage fraud, renewing his efforts to oust her despite a June supreme court ruling that her earlier firing was unconstitutional.

Trump said a committee will consult with justice department officials to decide whether there is “cause” for her removal. The White House will hold an in-person hearing on 5 November to consider the allegations against Cook, which will be closed to the public but transcribed and published. Cook will be able to submit a written statement to present her own evidence and will be subject to examination from White House and her own legal counsel.

Our business, labor and consumer rights reporters will answer your questions in a live Q&A on Thursday 15 October

The US economy is top of voters’ minds ahead of the November midterms with food and gas prices remaining high, the job market unstable, consumers angrier than ever, and a new Fed chair, Kevin Warsh, in place.

We’ll be hosting a live midterm election Q&A on Thursday 15 October 2026 at 12pm EDT on the Guardian US site with a panel of our business, labor and consumer rights reporters: Lauren Aratani, Michael Sainato, Heather Timmons and Gaya Gupta. The team will cover cost of living challenges, tariffs, inflation and new federal policy proposals from local candidates.

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