Justice Department Takes New Steps In Lisa Cook Investigation

The Justice Department has taken further steps successful its investigation into owe fraud allegations against Federal Reserve politician Lisa Cook, a personification acquainted pinch nan matter told NBC News.

Cook has denied nan allegations, according to filings this week from her ineligible team. Earlier connected Thursday, The Wall Street Journal first reported that nan Justice Department had issued subpoenas focused connected Cook’s properties successful Ann Arbor, Michigan, and Atlanta.

"The questions complete really Governor Cook described her properties from clip to time, which we person started to reside successful nan pending lawsuit and will proceed to do so, are not fraud, but it takes thing for this DOJ to undertake a caller politicized investigation, and they look to person conscionable done it again," Cook lawyer Abbe Lowell said successful a connection Thursday.

Bill Pulte, President Donald Trump's apical owe charismatic and a lodging manufacture scion, said past period that he made 2 criminal referrals to nan Justice Department complete alleged fraud he claimed Cook committed earlier and during her clip arsenic a Fed governor.

Ed Martin, a Justice Department charismatic tapped to oversee probes into Cook and other apical Democrats facing akin allegations, said successful precocious August that an investigation was being opened into Cook. Martin besides said that Fed Chair Jerome Powell should region Cook, according to a transcript of his missive obtained by Bloomberg.

Powell does not person nan powerfulness to region different apical Fed officials, specified arsenic Cook.

The Justice Department’s investigation is 1 of 2 ineligible fronts Cook is fighting. She sued Trump past week aft he attempted to occurrence her for cause, citing Pulte’s accusations.

Nominated by then-President Joe Biden, Cook is nan first Black female connected nan Federal Reserve's committee of governors. Her word began successful 2023 and runs done 2038.

Cook's ineligible battles are playing retired against a broader struggle complete nan long-held governmental independency of nan Federal Reserve. Trump and respective of his officials, including Pulte, person attacked Powell successful a monthslong run to unit nan cardinal slope into importantly cutting its benchmark liking rate, arguing it would stimulate nan economy. A ample complaint cut, alternatively than nan incremental quarter-point trim nan Fed often deploys, would apt power up already stubborn inflation, economists and different experts argue.

Powell's word arsenic chair is group to expire successful May 2026. Trump and Treasury Secretary Scott Bessent are reviewing candidates to win him.