‘I will not resign’ — Fed Governor Lisa Cook asserts Trump cannot remove her from office.
‘I will not resign’ — Fed Governor Lisa Cook rejects Trump’s attempt to remove her
Federal Reserve Governor Lisa Cook, the first Black woman to serve on the central bank’s board, has firmly rebuffed US President Donald Trump’s move to oust her, stating he has no legal authority to do so. “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook said in a statement Tuesday, issued through her attorney, Abbe Lowell.
Trump had called for her resignation last week and posted a letter on Truth Social claiming to have removed Cook “effective immediately,” citing alleged false statements on her mortgage agreements. Cook has not been charged with any crime, and the alleged discrepancies occurred before her current role on the Fed.
Lowell vowed to “take whatever actions are needed to prevent his attempted illegal action.” The case highlights ongoing debates over presidential powers and the independence of the Federal Reserve, which federal law protects by allowing removal of governors only for “cause,” such as malfeasance or dereliction of duty.
Senator Elizabeth Warren condemned Trump’s action as “an authoritarian power grab that blatantly violates the Federal Reserve Act” and said it must be challenged in court.
Trump has also publicly criticised Fed Chair Jerome Powell this year over interest rate policy, calling him a “numbskull” and a “moron,” reflecting broader tensions with the central bank.
