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

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.