Federal Reserve Governor Lisa Cook has vowed to file a lawsuit to challenge President Donald Trump’s decision to try to fire her. Trump claimed he had the authority to remove her due to unproven allegations of mortgage fraud. However, many are criticizing Trump’s actions as hypocritical, given his own history of similar convictions.
The move is part of a larger effort by Trump to increase pressure on the central bank. Cook’s decision to fight back suggests she will not go quietly into the night. The Federal Reserve’s independence and impartiality are critical to its ability to set monetary policy and regulate the financial system, making this dispute significant for the nation’s economy.
As commenters pointed out, it is particularly rich that Trump, who has faced his own mortgage-fraud allegations in the past, would try to use those as grounds for removing a respected member of the Federal Reserve. The public will be watching closely as this dispute unfolds and its implications for the country’s financial system become clearer.
Source: https://www.washingtonpost.com/business/2025/08/25/trump-lisa-cook-federal-reserve