The chairman calls the allegations “serious“ as the Federal Reserve official has been criminally referred to the Justice Department.
The House Financial Services Committee announced that it would review the allegations against Federal Reserve Governor Lisa Cook that caused President Donald Trump to fire her. The president cited the criminal referrals to the Justice Department for mortgage fraud by the Federal Housing Finance Agency as cause for her removal.
A spokesperson for Committee Chairman French Hill said that the committee was prepared to take these allegations seriously.
“The allegations against Governor Cook are serious and the appearance of something unethical erodes trust in the Federal Reserve,” the spokesperson stated. “Congress has a constitutional responsibility to provide oversight, and the Committee looks forward to examining these allegations.”
Lawyers for Lisa Cook have sued the president’s administration for the attempted firing, alleging that there is not enough evidence to support a “for cause” reason for her removal. The case is expected to end up before the Supreme Court.
As the Lord Leads, Pray with Us…
- For Chairman Hill and members of the House Financial Services Committee as they engage in oversight of the Federal Reserve.
- For wisdom for President Trump and his financial policy advisors as they endeavor to improve the nation’s economy.
Sources: Roll Call, Politico
