Who is Lisa Cook, Federal Reserve governor targeted by Trump?

August 26, 2025

Federal Reserve Board Governor Lisa Cook, the first Black woman in this role, is suing President Trump after he attempted to fire her, claiming mortgage fraud allegations as cause. Trump's unprecedented move against the independent Federal Reserve comes amid his increasing pressure to lower interest rates. Cook, whose research focuses on race, inequality, and economics, has stated she will not resign and will continue her duties on the seven-member board where she has served since 2022.

Who is affected

Lisa Cook, Federal Reserve Board Governor
The Federal Reserve Board, an independent regulatory body
Black women in economics and leadership positions
The American public affected by Federal Reserve monetary policy decisions
Federal Reserve Board Chair Jerome Powell (who is also being pressured by Trump)

What action is being taken

Lisa Cook is suing President Trump, claiming he lacks authority to dismiss her
Cook is refusing to resign and continuing her duties as Federal Reserve Board Governor
Trump is pressuring the Federal Reserve to lower interest rates
Congressional Democrats and advocacy groups are condemning Trump's attempt to remove Cook

Why it matters

This represents an unprecedented political intervention in the Federal Reserve's independence
Cook is a groundbreaking figure as the first Black woman on the Federal Reserve Board in its 110-year history
The Federal Reserve's decisions on interest rates significantly impact the U.S. economy
The case involves legal questions about presidential authority to remove Federal Reserve governors
Cook's dismissal is viewed by critics as part of a pattern of targeting Black women in leadership positions

What's next

No explicit next steps stated in the article

Read full article from source: The 19th