Lisa D. Cook

Rule Changes

Remains in position pending Supreme Court decision

No president has fired a sitting Federal Reserve governor in the central bank's 112-year history. Donald Trump is trying to be the first and wants to replace the Fed chair with a loyalist.

Updated May 22

Rule Changes

Fighting removal; Supreme Court heard arguments January 21, appears likely to block her firing

No president has ever criminally investigated a sitting Federal Reserve chair. When Trump's Justice Department served Jerome Powell with grand jury subpoenas on January 11, two Republican senators announced they would block all Fed nominees until the probe ends. With a 13-11 GOP majority on the Banking Committee, even one defection creates a confirmation stalemate.

Updated May 20

Rule Changes

Still on the Board after court orders block Trump’s attempt to fire her.

In a single year the Fed has gone from peak post‑Covid rates to a clear easing cycle. December's third 2025 rate cut pushes the federal funds range down to 3.5–3.75% and flips the switch on a new operating regime built around full‑allotment repos and steady Treasury bill buying.

Updated May 10

Rule Changes

Plaintiff in separate litigation to block Trump’s attempt to remove her from the Fed

In 2025, President Donald Trump challenged the 1935 Humphrey's Executor precedent by firing and removing independent agency officials before their terms expired.

Updated May 10

Rule Changes

Fighting Trump’s attempt to remove her; under DOJ review after Pulte referral

In early 2025, Trump appointed housing heir Bill Pulte as director of the FHFA, which oversees Fannie Mae, Freddie Mac, and $8.5 trillion in mortgage credit. Within months, Pulte used mortgage data to publicly accuse NY AG Letitia James, Senator Adam Schiff, Fed Governor Lisa Cook, and Congressman Eric Swalwell of fraud, referring them to Justice amid concerns of political retribution.

Updated May 9