Republican lawmakers on Capitol Hill are skeptical about President Trump’s attempt to fire Lisa Cook, the first Black woman to serve on the Federal Reserve’s board of governors. Senate Republicans did not support Cook’s nomination when then-President Biden tapped her for the job in 2022, but they view Trump’s claim that he is firing her for cause as weak and worry that he is trampling on the Fed’s independence.
One senior Senate GOP aide who requested anonymity to comment candidly said the president doesn’t appear to have any real “cause” to fire Cook. There are a million other ways you could then cook up a definition of “cause” to justify firing a commissioner or board member at an independent agency. This is clearly aimed at Powell, referring to Federal Reserve Chair Jerome Powell. Trump has relentlessly feuded with Powell since returning to office over the Fed’s decision to not cut interest rates.
Cook has pushed back against the allegation and said Trump has no cause to justify firing her. She has pledged to stay in the job. Sen. Todd Young (R-Ind.) told reporters Tuesday that Trump’s attempt to push Cook out of her job is “breaking new ground,” adding, “I don’t know whether the law allows it or not.” Other Republicans have previously argued Trump does not have the power to fire Powell, the Fed chair, and defended the independence of other central bank commissioners.
Senate Democrats reacted angrily to Trump’s announcement that he would fire Cook, calling the move “illegal.” Abbe Lowell, Cook’s attorney, said his client will sue Trump to stop him from removing her from the board. Trump’s attorney said his client will sue Trump to stop him from removing her from the board.
