Power Grab/Fire anyone who can stop him
Three months after the Supreme Court blocked him, Trump set up his own panel to decide whether he can fire Fed governor Lisa Cook.
— Trump names a 3-person White House panel to decide if he has 'cause' to fire Fed governor Lisa Cook.
A presidential memorandum names his economic policy adviser, the EEOC chair and the government ethics director to hold a hearing at the White House on November 5 and report whether there is “cause” to remove her.
What happened
On October 7, 2026, Trump signed a memorandum creating a “Committee of Inquiry” into allegations that Federal Reserve Governor Lisa Cook made false statements on mortgage documents. Its three members are the Assistant to the President for Economic Policy, the chair of the Equal Employment Opportunity Commission and the director of the Office of Government Ethics. It may consult Justice Department personnel.
The memo orders an in-person hearing at the White House on November 5, lasting no more than 4 hours, at which Cook must appear and be examined. She may submit a written statement at least 3 days before. The committee is to report to the president whether there is “cause” for her removal.
The memo cites Trump v. Cook, the Supreme Court’s June 29, 2026 ruling that Cook was entitled to notice and a chance to respond before any removal for cause, and that blocked her August 2025 firing. Her lawyer answered the White House’s August notice by saying an inadvertent error is not fraud.
Who benefited
Trump, who lost at the Supreme Court and now has a process run by officials who serve at his pleasure. He alone decides what to do with the committee’s report.
Who wanted something
Trump has tried to remove Cook since August 2025, when he first announced her firing. A for-cause finding would open a seat on the Federal Reserve Board for him to fill.
Who lost out
Cook, who must answer to a panel of the president’s appointees, at the White House, within 4 hours. The Federal Reserve’s independence from the president, which the for-cause rule exists to protect, is what the hearing tests.
Why it matters
The Supreme Court told Trump he had to give Cook notice and a hearing before firing her; the memo supplies both, on his terms. A court ruling meant to protect an independent agency has become the checklist for removing its governor.
Sources The White House (primary)Supreme Court of the United States (primary)CNBCAmerican Banker
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