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... The president signed a memorandum, dated Wednesday, creating what he said is a "committee of inquiry" that will be made up of three members: the assistant to the president for economic policy, chair of the Equal Employment Opportunity Commission and head of the Office of Government Ethics.
After conducting its investigation into Cook, the committee will report to Mr. Trump whether there is "cause" to remove her from the Fed Board. The three-member panel will hold an in-person hearing at the White House on Nov. 5 to "consider the evidence and allegations" against Cook, according to the memorandum. The hearing will not be public, but will be transcribed, the White House said.
Cook has the opportunity to submit a "written position statement" to the committee in response to the accusations against her and can appear at the proceeding, the president's memorandum stated.
"Governor Cook may present argument, written evidence, and written witness statements regarding the evidence and allegations," it continued. "The Committee may also question Governor Cook about any representations she or her counsel make during the hearing, or it may authorize its representatives, including Department of Justice personnel, to conduct that questioning."
Abbe Lowell and Norm Eisen, Cook's lawyers, said she "welcomes the opportunity to present the facts so she can clear her name and demonstrate there is no legal basis to fire her."
"In light of the President's repeated statements that he has already decided to fire Governor Cook -- regardless of the facts and evidence -- we have grave doubts that this 'hearing' is a legitimate one that would conform to the law. But if it is anything close to objective, the conclusion will be that Governor Cook did not commit mortgage fraud, leaving no cause to remove her from the Federal Reserve Board," they said in a statement.
"We have engaged with the White House to evaluate whether the process proposed has a possibility of being a genuine one and not simply a box checking exercise." ...
