President Donald Trump’s October 9 announcement of a White House committee to probe mortgage-fraud allegations against Federal Reserve Governor Lisa Cook has intensified scrutiny of her position, following the Supreme Court’s June 5-4 ruling that blocked an earlier dismissal on procedural grounds while preserving the “for cause” standard under the Federal Reserve Act. The panel, composed of Trump appointees, is scheduled to hold a closed hearing on November 5—two days after midterm elections—to assess whether cause exists for removal, with a report to follow. Cook’s attorneys have challenged the committee’s impartiality and sought to delay proceedings until at least December, citing her overseas monetary-policy duties. Markets price in low near-term odds of departure amid ongoing litigation and institutional norms protecting Fed independence, with any vacancy potentially shifting the seven-member board’s balance on rate decisions.