U.S. President Donald Trump said on Friday that he would remove Federal Reserve Governor Lisa Cook if she does not resign, increasing his push to influence the central bank. “I’ll fire her if she doesn’t resign,” Trump told reporters while visiting a Washington museum.
Cook, the first Black woman to serve on the Fed board, said she had “no intention of being bullied to step down.” Trump had earlier called for her resignation, citing questions about mortgages she holds in Michigan and Georgia.
Lisa Cook Was Appointed as Federal Reserve Governor by Joe Biden
On Wednesday, Cook responded that she takes any concerns about her financial record seriously as a Federal Reserve member. She added that she is gathering accurate information to answer any legitimate questions.
Cook is one of three Fed governors appointed by President Joe Biden whose terms will last beyond Trump’s presidency, making it harder for him to gain full control of the Fed. The Board of Governors has seven members, and Trump currently has two appointees there, Christopher Waller and Michelle Bowman, the vice chair for supervision.
Trump has often clashed with Fed Chair Jerome Powell, criticizing him for not cutting interest rates and, more recently, for overspending on renovations at the Federal Reserve’s headquarters. Powell’s term as chair ends in May 2026. He has reiterated that he has no plans to leave the post early making Trump more angry.
Donald Trump Has Been Constantly Criticizing Federal Reserve Chair Jerome Powell
Over the past few months, Trump has repeatedly criticized Powell for the Federal Reserve’s decision not to cut interest rates. He has even suggested removing Powell from his position, though he also said it was “unlikely” he would actually fire him.
Recently, the Trump administration has stepped up its pressure on the Fed and has openly attacked Powell. The White House also launched an investigation into the Fed’s renovation of two buildings in Washington, claiming the projects were too expensive and ignored planning rules. The Fed rejected those claims.
Also Read: Donald Trump Calls Federal Reserve Chief ‘Knucklehead’ Over Interest Rates
