Trump pushes to dismiss Fed governor Cook despite court ruling and lawyer's objections

President Trump has intensified his campaign to dismiss Fed governor Cook, unveiling a fresh investigation and appointing a three-person committee to conduct a hearing. Cook’s lawyer, Abbe Lowell, contends that one of the committee’s members, White House economic adviser Kevin Hassett, previously pressured Cook to take leave, rendering the panel prejudiced. The attorney also criticizes the lack of clear evidence disclosure and the vague timetable for the hearing.

Cook will be unable to attend the November 5 hearing because she will be in Europe for monetary-policy meetings, and the earliest she could appear is after the Fed’s December 8-9 policy session. Earlier this year, the Supreme Court ruled that the president cannot fire a Fed governor at will, but it outlined a procedure that allows removal if the official receives a fair chance to see and rebut the allegations, a route the White House seems to be pursuing. Meanwhile, the Fed raised its policy rate in September and is expected to do so again at its year-end meeting.