White House sets hearing on Fed’s Cook for December 14, NYT says

Nov 4 (Reuters) – The White House has scheduled for December 14 a planned hearing into allegations of mortgage fraud by Federal Reserve Governor Lisa Cook, the New York Times reported on Wednesday, citing an unnamed White House official, in a new phase of President Donald Trump’s effort to fire her. 

• Cook’s lawyer did not respond to a request for comment, but previously raised questions about the hearing’s fairness and sought information from the White House about the hearing process before agreeing to a date.

• Trump has been trying to fire Cook for more than a year, one of several unprecedented attempts to exert control over the Fed during his second presidential term. No president has ever removed a US central banker.

• Cook denies any wrongdoing.

• The Supreme Court in June ruled that Trump cannot fire a Fed governor “at will” but may be able to if he gives her a chance to defend herself.

• Trump’s top economic aide, Kevin Hassett, told Bloomberg TV last week that Cook’s lawyers had agreed to a date in December for what he said would be a fair hearing. Hassett is on a three-person committee Trump formed to hold the hearing and recommend whether she should be fired.

• Cook’s lawyer Abbe Lowell last month told the White House she would not be available for its initially announced November 5 hearing date and would be unable to attend until after the Fed’s December 8 to 9 policy-setting meeting.

(Reporting by Ann Saphir; Editing by Cynthia Osterman)