Trump's attempt to fire Lisa Cook
Should President Trump be able to dismiss Lisa Cook from the Fed? Viewpoints from multiple sides.
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Snippets
Russia launched its largest drone and missile attack on Ukraine since the war began, reportedly using at least 800 drones and 13 missiles, hitting targets at 33 different locations. At least two people were killed in Kyiv, with total casualty counts not yet clear.
The US military struck a small vessel in the Caribbean – killing 11 – that was allegedly transporting narcotics from Venezuela to the US and operated by the Tren de Aragua gang. The US has deployed military assets to the Caribbean over the past several weeks with a stated aim of cracking down on drug cartels.
In a raid at a Hyundai Motor battery facility under construction in Georgia, immigration authorities arrested 475 immigrants – mostly South Korean nationals – suspected of living and working in the US illegally. It was the largest single-site immigration enforcement operation in the history of the Department of Homeland Security.
The US economy added 22,000 jobs in August according to the Bureau of Labor Statistics, below economists’ expectations of 75,000. The unemployment rate also rose to 4.3%, its highest level since 2021.
A federal judge ruled that the Trump administration’s deployment of federal troops to Los Angeles amid anti-ICE protests in June was unlawful, concluding it violated the Posse Comitatus Act by using troops to perform law enforcement duties.
What’s happening
Two weeks ago, in an open letter posted to Truth Social, President Trump ordered the removal of Federal Reserve (Fed) Governor Lisa Cook from her position. In the letter, Trump said that Cook was being fired “for cause” on the grounds that Cook “may have made false statements on one or more mortgage agreements.” These findings stemmed from a criminal referral performed by the Federal Housing Finance Agency, in which Cook was alleged to have claimed properties in both Michigan and Georgia as primary residences to get more favorable loan terms. Trump cited Cook’s actions as "deceitful and potentially criminal” that called into question her “competence and trustworthiness as a financial regulator.”
Cook responded to Trump’s announcement by stating that he did not have the authority to fire her, that no cause existed under law for her removal, and that she would not resign. Cook also filed a lawsuit against Trump and the Federal Reserve to block her removal from the position. As of this writing, a judge is considering Cook’s request for an emergency order that would prevent her from being removed while the lawsuit continues.
The Fed has said that it will continue to carry out its legal duties and that it will abide by any court decision. (Cook continues to be listed as a Board Member.) This past week, the Department of Justice also opened a criminal investigation into Cook’s actions.
The Fed’s Board of Governors: The Federal Reserve, which identifies itself as “an independent government agency… that is ultimately accountable to the public and the Congress,” is led by 7 members of the Board of Governors. Each governor is appointed by the president and confirmed by the Senate, and each governor’s term is 14 years long (Lisa Cook was appointed by Joe Biden, and her term is set to run until Jan 2038). According to the Federal Reserve Act, which established the Fed as the central bank of the US in 1913, governors can only be removed from their term “for cause” by the president. Trump v. Wilcox (2025) upheld for-cause removal protections for members of the Board of Governors, determining that the “Federal Reserve is a uniquely structured, quasi-private entity.”
Trump’s relationship with the Fed: Trump’s announced removal of Cook is the first time in the history of the Fed that a president has attempted to fire a governor for cause. This is the latest in a series of disagreements between the Fed and Trump, who since taking office in Jan 2025 has repeatedly pressured the Fed to lower interest rates.
In Jul 2025 Treasury Secretary Scott Bessent shared that the Trump administration had started a process to replace Fed Chairman Jerome Powell, whose 4-year term as Chair runs until May 2026 and term as board member runs until Jan 2028. Trump has been outwardly critical of Powell for the Fed’s decisions to hold the federal interest rate steady and has suggested that he might fire Powell. Following Trump’s move to fire Cook, he shared that he would soon have a “majority” of his own nominees on the Fed Board of Governors.
Debate has surfaced over the legal merits and potential fiscal implications of firing Cook should Trump’s attempt succeed. Today, we bring you the viewpoints from multiple sides. Let us know what you think.
Notable viewpoints
More opposed to Trump removing Cook from the Federal Reserve:
Trump does not have the legal authority to remove Cook.
Cook has not been convicted or even charged with a crime, and Trump cannot legally fire her on the suspicion of criminal activity. This is yet another example of Trump attempting to remove his political opponents from power to get what he wants.
Attacking Cook with unproven criminal accusations and threats of removal weakens the fundamental principle of the Fed’s independence that was established by the Federal Reserve Act. Federal Reserve governors were given legal protections from at-will removal as a central mechanism of the Fed to protect against monetary policy being misused for political gain at the expense of the economy’s health.
Trump interfering with the Fed and monetary policy would harm the economy.
Trump gaining control of the Fed – which he would effectively be able to accomplish if allowed to fire board members at will – would not be in the best interest of the US. Throughout history, when central banks have gone under the influence of politicians (e.g., in Turkey and Argentina), it has resulted in inflation.
Trump going after Cook undermines trust in the Fed’s independence, which is pivotal to the US’s economic strength. Without trust in the Fed, markets will be forced to price political risks into interest rates, which will increase rates and ultimately costs for families and businesses.
If Trump were to take control of the Fed, he would impulsively make decisions that could have negative long-term consequences for the economy. Democratically-elected officials should not set monetary policy, which would fall subject to short-term, partisan politics and drive poor fiscal results.
More supportive of Trump removing Cook from the Federal Reserve:
Trump has the legal authority to remove Cook.
The Fed effectively operates under the executive branch, with nominees appointed by the president and confirmed by Congress. Article II of the Constitution places the entirety of the executive power with the president, and Myers v. United States (1926) determined that such power includes the ability to remove executive branch officers – this gives Trump the constitutional and statutory authority to fire Cook.
There is no legal reason why Trump should not be allowed to fire Cook. Seila Law LLC v. Consumer Financial Protection Bureau (2020) determined that it was unconstitutional to prevent the president from firing at will a member of an independent agency that executes executive power, a category in which the Fed qualifies.
Despite the effectiveness of the Fed, it is unconstitutional in its current construction. There is no such thing as an independent agency. There are only 3 branches of government, and the Fed is accountable to the executive branch, meaning that Trump has the right to fire anyone at the Fed for any reason.
Cook is not fit to govern at the Fed.
Concerns that Trump firing Cook would threaten the Fed’s independence are overblown. The issue is that Cook’s actions were incompetent at best, and criminal at worst. In either case, she should not be entrusted with financial regulatory powers and should no longer work in a government position.
Personal misconduct does fall under the umbrella of “cause” for firing, and Cook is under criminal investigation for allegedly committing fraud – she does not have protections against being removed from her position.
Be heard
We want to hear from you! Comment below with your perspective on President Trump’s attempted removal of Lisa Cook from the Fed and we may feature it in our socials or future editions. Below are topic ideas to consider.
Do you agree with Trump’s attempted removal of Lisa Cook from the Federal Reserve? Why or why not?
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Definitely... The baning system is a big problem for most Americans especially the fed that is not controlled by the government or is. It's a private deal. And if there is anyway he can change it around for the betterment of our society, Do it