Cook, who has been accused of mortgage fraud, has said she will not be bullied by Trump into resigning.The United States Department of Justice plans to investigate Federal Reserve Governor Lisa Cook, with a top official informing Federal Reserve Chair Jerome Powell of the probe and encouraging him to remove her, Bloomberg News has reported.A letter to Powell from Ed Martin, a Department of Justice (DOJ) official who has led similar investigations into Senator Adam Schiff of California and New York Attorney General Letitia James, said Cook’s case “requires further examination”, Bloomberg reported on Thursday.“At this time, I encourage you to remove Ms Cook from your Board,” Martin wrote, according to Bloomberg. “Do it today before it is too late! After all, no American thinks it is appropriate that she serve during this time with a cloud hanging over her.”The DOJ did not immediately reply to a request for comment.Asked about the report, a Fed spokesperson referred to Cook’s statement on Wednesday, when she said she had no intention of being “bullied” into resigning after President Donald Trump called for her to step down on the basis of allegations made by a member of his administration about mortgages she holds in Michigan and Georgia.The Federal Reserve Act provides no authority for a Fed chair to remove another member of the Board of Governors.Cook, the first Black woman to be a Fed governor, is serving a 14-year term that began after …
