At Spelman College in Atlanta, Lisa Cook was remembered as the “personification of excellence.” Darlene Smith-Garner, a 2023 graduate of the historically Black women’s college, described Cook as a model alumna:
“To get where she is, she had to overcome a lot and fight. And that’s what she will do now, as a Spelman woman. And not just a fight for her job, but a fight for what’s right.”
Today, that fight places Cook squarely against Donald Trump and his authoritarian playbook.
Trump’s Unprecedented Move
On Monday, Trump sent Cook a letter declaring her removal from the Federal Reserve’s Board of Governors after Federal Housing Finance Agency Director Bill Pulte accused her of falsifying bank records to secure favorable mortgage terms.
Cook, 61, has strongly denied the allegations and responded with a lawsuit filed Thursday. The lawsuit calls Trump’s actions “unprecedented and illegal,” seeking a declaration that her firing is “unlawful and void” so she may continue her work on the Fed board.
Cook stated:
“Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so. I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022.”
The White House defended Trump’s actions, with a spokesperson claiming he “exercised his lawful authority to remove” her. But legal experts note that Federal Reserve governors serve 14-year terms, explicitly designed to insulate them from political pressure.
Why This Fight Matters
Lisa Cook’s removal is not just about one individual—it’s about the independence of the Federal Reserve. The Fed makes critical decisions on interest rates, banking regulations, and financial stability. If a president can unilaterally dismiss governors who oppose their agenda, the central bank ceases to be independent and instead becomes another arm of political power.
This is part of a broader authoritarian pattern: undermining institutions, bending laws, and reshaping governance around loyalty rather than legality. Trump’s targeting of Cook is not an isolated act—it is a precedent-setting move that threatens the balance of economic policy in the U.S.
Lisa Cook’s Journey
Cook’s background makes her fight even more emblematic.
- Early Life in Georgia: Born in Milledgeville, Cook was among the first Black students to integrate her local schools, enduring violent attacks that left her with physical scars.
- Scholarship on Discrimination: Her academic work has shown how racial violence and discrimination suppressed economic growth and innovation. One of her studies connected domestic terrorism against Black communities to over 1,100 missing patents in U.S. history.
- Global Influence: She advised the governments of Nigeria and Rwanda on banking and development reform, while also serving under President Barack Obama on the White House Council of Economic Advisers.
- Historic Achievement: In 2022, she became the first Black woman to serve as a governor of the Federal Reserve, confirmed after Vice President Kamala Harris broke a Senate tie.
Her story is one of resilience, scholarship, and groundbreaking achievement—qualities that Republicans, led by Trump, have repeatedly tried to discredit.
The Politics of Resistance
Cook’s 2022 confirmation was bitterly opposed by Senate Republicans. JD Vance claimed her diversity-focused work “may distract from more important things,” while Trump’s former adviser Peter Navarro mocked her as being “more qualified to coach an NFL team.”
No Republicans voted for her confirmation. Sherrod Brown, then-Senator from Ohio, said bluntly:
“It’s been 109 years and seven people on the Federal Reserve at one time, and not one African American woman ever. They should be ashamed.”
What’s at Stake
At the Fed, Cook has served on committees protecting consumer credit, stabilizing financial systems, and supporting smaller banks. Removing her undermines not only representation but also the very principle that the Federal Reserve should serve the American economy—not presidential politics.
Trump’s attempt to dismiss her sets a dangerous precedent: one where the independence of the Federal Reserve is sacrificed to authoritarian control. Lisa Cook’s fight, then, is larger than her career. It is a fight for democracy, for economic integrity, and for the principle that expertise—not political loyalty—guides America’s most important financial institution.
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