Embattled Fed Governor Lisa Cook Makes First Public Remarks Since Trump Said He Fired Her

November 4, 2025

Federal Reserve Governor Lisa Cook delivered her first public remarks since President Trump's August attempt to fire her, stating that current interest rates are appropriately positioned to address ongoing inflation concerns. Cook, who is the first Black woman to serve as a Fed governor and the first central banker to face a firing attempt, is currently involved in a Supreme Court case challenging Trump's authority to remove her. In her Monday speech, she emphasized her commitment to reaching the Fed's 2% inflation target while acknowledging risks to both employment and price stability.

Who is affected

Federal Reserve Governor Lisa Cook (subject of firing attempt and legal battle)
President Donald Trump (attempting to remove Cook from position)
Fed Chair Jerome Powell and other Fed officials (divided on policy direction)
Fed Governor Stephen Miran (voted for larger rate cut)
Kansas City Fed President Jeffrey Schmid (voted against rate cut)
Black workers (experiencing rising unemployment)
People in Schmid's district (expressing concerns about healthcare costs and insurance premiums)
Investors (relying on Fed transparency for monetary policy direction)

What action is being taken

The Supreme Court is hearing the case, with Cook remaining in her role temporarily and oral arguments scheduled for January
The Fed is lowering interest rates (has cut rates at the past two consecutive meetings)
Cook is participating in public events to communicate her economic views
The government shutdown is suspending government data collection

Why it matters

This case represents a landmark challenge to Federal Reserve independence and presidential power that could fundamentally alter the relationship between the executive branch and the central bank. The Fed's ability to make monetary policy decisions free from political interference is considered crucial for economic stability and credibility. Additionally, the Fed faces a particularly difficult policy environment with officials deeply divided over whether tariff-driven inflation or labor market weakness poses the greater risk, complicated further by the extended government shutdown limiting access to economic data needed for informed decision-making.

What's next

The Supreme Court will hear oral arguments in January and decide the case next year
The Fed will continue holding meetings with December's meeting characterized as "live" (meaning policy changes are possible)

Read full article from source: The San Diego Voice & Viewpoint