Trump launches probe into Federal Reserve Governor Lisa Cook
Trump began efforts to remove Cook as one of the governors on the US Fed Reserve Board in 2025 and litigation is on.
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Trump began efforts to remove Cook as one of the governors on the US Fed Reserve Board in 2025 and litigation is on.
The Federal Reserve's watchdog on Wednesday found no grounds for a criminal referral over a roughly $1 billion cost overrun on renovations to the central bank's Washington buildings, while faulting project oversight. The findings prompted President Donald Trump to renew his call for former Fed chief Jerome Powell to resign.
Betsey Stevenson said the Inspector Generalโs report finding no criminal wrongdoing in the Fed renovations confirms what many already suspected: the investigation was about a president pushing against the Federal Reserveโs independence. She argued Jerome Powell respected the institutionโs need to stay separate from presidential influence because the Fedโs job is to keep prices stable and employment at maximum sustainable levels. She speaks with Romaine Bostick & Emily Graffeo on "The Close." (Source: Bloomberg)
The renovation costs became a focus of Trumpโs pressure campaign against former Federal Reserve Chair Jerome Powell.