Mike Lee calls Fed Governor Lisa Cook’s warnings about inflationary pressure from artificial intelligence “ridiculously stupid.” He claims that the Federal Reserve’s rate policy is driven by political motivations to protect the presidency.
Federal Reserve Governor Lisa Cook’s lawyer is challenging the impartiality of a White House committee investigating mortgage fraud allegations against her, raising concerns about the fairness of President Donald Trump’s latest effort to remove her from the central bank.
In an Oct. 13 letter reviewed by Reuters, attorney Abbe Lowell questioned the inclusion of National Economic Council Director Kevin Hassett on the three-member panel, saying Hassett had previously pressured Cook to take leave and suggested Trump had “reason” to fire her.
“A hearing with blatantly biased members, unspecified additional allegations, and an unclear timeline for the release of any additional evidence – without any explanation as to why it was not produced before – is not a process that respects the appearance or history of independence,” Lowell wrote, according to Reuters.
Lowell also requested a postponement of the panel’s Nov. 5 hearing, saying Cook would be in Europe for formal financial and monetary policy meetings and would not be available until after the Dec. 8-9 Fed policy meeting.
Democrats call Trump a “total failure” on inflation while White House cites economic growth.
A side-by-side photo of President Donald Trump and Federal Reserve Governor Lisa Cook. (Chip Somodeville/Al Drago/Getty Images / Getty Images)
Trump created the committee through an Oct. 7 memorandum to determine whether the mortgage-related allegations against Cook provide sufficient grounds for his impeachment. The panel also includes the chairman of the Equal Employment Opportunity Commission and the director of the Office of Government Ethics.
According to the memorandum, Cook would receive the evidence against her and would have up to four hours to present her defense in a closed hearing. The committee would then recommend whether Trump has grounds to impeach her. It is not yet known whether the hearing will be postponed.
Federal Reserve Governor Lisa Cook speaks during a discussion at the Brookings Institution on the economic outlook and monetary policy, November 3, 2025. (Tom Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)
Trump has sought Cook’s removal since August 2025, following allegations that she designated properties in Georgia and Michigan as primary residences under separate mortgage deals. The White House also claims it later leased the property in Georgia.
Cook has denied committing mortgage fraud. Her lawyers argue that the Georgia designation was an unintentional error and that she consistently identified Michigan as her primary residence.
Lisa Cook, Governor of the US Federal Reserve, at the Brookings Institution in Washington, Monday, November 3, 2025. (Aaron Schwartz/Bloomberg/Getty Images / Getty Images)
The Supreme Court ruled 5-4 in June that Trump could not fire Cook without sufficient notice and the opportunity to contest the allegations, leaving open the possibility of removal.
The dispute has broader implications for the Federal Reserve’s independence from political pressure.
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Fox Business has contacted Lowell for further comment.
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