President Donald Trump on Friday suggested he would remove Federal Reserve Governor Lisa Cook if she does not step down, escalating his push to reshape the U.S. central bank.
“I’ll fire her if she doesn’t resign,” Trump told reporters during a visit to a Washington museum focused on the White House.
Cook, the first Black woman to serve on the Fed board, responded that she has “no intention of being bullied to step down.” Her statement came after Trump earlier in the week urged her resignation, citing questions about mortgages she holds in Michigan and Georgia.
Who is Lisa Cook and what did she say?
On Wednesday, Cook said she takes questions about her financial history seriously as a Federal Reserve governor and is working to provide accurate information to address any legitimate concerns.
Cook is one of three governors appointed by President Joe Biden whose terms extend beyond Trump’s presidency, complicating his effort to secure majority influence on the Fed’s seven-member Board of Governors. Currently, two of the six other members—Governor Christopher Waller and Vice Chair for Supervision Michelle Bowman—were appointed by Trump.
Trump has also repeatedly criticized Fed Chair Jerome Powell, whose term runs through May 2026. The president has faulted Powell both for not cutting benchmark interest rates and for cost overruns tied to renovations at the Federal Reserve’s headquarters.
