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Lisa D. Cook

Lisa D. Cook

Governor, Federal Reserve Board

Appears in 5 stories

Notable Quotes

“No cause exists under the law, and he has no authority to remove me.” — Lisa Cook responding to Trump’s firing letter.

Cook’s complaint argues that for‑cause protections have been “a bulwark of the Federal Reserve’s independence for the past century.”

Cook said she had 'no intention of being bullied to step down' over questions about an old mortgage application. ([cnbc.com](https://www.cnbc.com/2025/08/20/trump-fed-cook-pulte-mortgage-bondi.html?utm_source=openai))

Stories

Fed’s 2025 rate-cut run: three eases, one new playbook, and a president pushing hard

Rule Changes

Still on the Board after court orders block Trump’s attempt to fire her.

In a single year the Fed has gone from peak post‑Covid rates to a clear easing cycle. December's third 2025 rate cut pushes the federal funds range down to 3.5–3.75% and flips the switch on a new operating regime built around full‑allotment repos and steady Treasury bill buying.

Updated 6 days ago

Trump’s unitary-executive showdown with independent agencies

Rule Changes

Plaintiff in separate litigation to block Trump’s attempt to remove her from the Fed

In 2025, President Donald Trump challenged the 1935 Humphrey's Executor precedent by firing and removing independent agency officials before their terms expired.

Updated 6 days ago

Bill Pulte’s FHFA mortgage-fraud crusade faces watchdog scrutiny

Rule Changes

Fighting Trump’s attempt to remove her; under DOJ review after Pulte referral

In early 2025, Trump appointed housing heir Bill Pulte as director of the FHFA, which oversees Fannie Mae, Freddie Mac, and $8.5 trillion in mortgage credit. Within months, Pulte used mortgage data to publicly accuse NY AG Letitia James, Senator Adam Schiff, Fed Governor Lisa Cook, and Congressman Eric Swalwell of fraud, referring them to Justice amid concerns of political retribution.

Updated 7 days ago

Trump's assault on federal reserve independence

Rule Changes

Remains in position pending Supreme Court decision

No president has fired a sitting Federal Reserve governor in the central bank's 112-year history. Donald Trump is trying to be the first—and to replace the Fed chair with a loyalist. His August 2025 attempt to remove Governor Lisa Cook over unproven mortgage fraud allegations escalated into a Supreme Court showdown that exposed the fragility of Fed independence. In a striking January 21, 2026 hearing, all nine justices—including three Trump appointees—expressed skepticism about Trump's removal claims, with Justice Brett Kavanaugh warning the administration's position "would weaken, if not shatter, the independence of the Federal Reserve." Fed Chair Jerome Powell attended the arguments and later called the case "perhaps the most important legal case in the Fed's 113-year history." Nine days later, Trump nominated Kevin Warsh, a 55-year-old former Fed governor and longtime Trump ally, to replace Powell when his term expires in May 2026.

Updated Feb 5

Two GOP senators block Trump's Fed picks over Powell probe

Rule Changes

Fighting removal; Supreme Court heard arguments January 21, appears likely to block her firing

No president has ever criminally investigated a sitting Federal Reserve chair. When Trump's Justice Department served Jerome Powell with grand jury subpoenas on January 11, two Republican senators announced they would block all Fed nominees until the probe ends. With a 13-11 GOP majority on the Banking Committee, even one defection creates a confirmation stalemate.

Updated Jan 28