US DOJ Investigates Fed's Cook, Calls for Dismissal, According to Bloomberg News

Written by Emily J. Thompson, Senior Investment Analyst

Source: Reuters

Updated: Aug 21 2025

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Source: Reuters

Investigation Announcement: The U.S. Justice Department is set to investigate Federal Reserve Governor Lisa Cook, with a recommendation for her removal from the board by a top official.
Communication to Fed Chair: Ed Martin, a Justice Department official, urged Federal Reserve Chair Jerome Powell to act quickly regarding Cook's position due to ongoing allegations.
Cook's Response: In response to calls for her resignation, including from former President Donald Trump, Cook stated she has no intention of stepping down.
Legal Context: The Federal Reserve Act does not grant the Fed chair the authority to remove a member of the Board of Governors, complicating any potential actions against Cook.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

US DOJ Investigates Fed's Cook, Calls for Dismissal, According to Bloomberg News

About the author

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