The Justice Department signaled possible plans to investigate Federal Reserve Governor Lisa Cook, with a top official informing Federal Reserve Chair Jerome Powell of the probe and encouraging him to remove her from the board in a letter sent Thursday.
Ed Martin, a Justice Department official who has led similar investigations into Senator Adam Schiff of California and New York Attorney General Letitia James, told Federal Reserve Chair Jerome Powell that Cook’s case “requires further examination” in the letter.
“At this time, I encourage you to remove Ms. Cook from your Board,” Martin wrote. “Do it today before it is too late! After all, no American thinks it is appropriate that she serve during this time with a cloud hanging over her.”
Powell doesn’t have the authority to fire Cook, a Senate-confirmed presidential appointee. Only the president can remove a Fed governor and only for cause. Bloomberg’s Stuart Paul reports.
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