Lisa Cook Says She Will Not Step Down From the Fed Board [View all]
Source: New York Times (gift link)
Lisa Cook said that she would not step down from the Federal Reserve, hours after President Trump said that he was taking the extraordinary step of removing her from the central bank’s Board of Governors.
Mr. Trump announced the firing, which he said was effective immediately, earlier on Monday. He cited allegations that Ms. Cook may have falsified records in order to obtain favorable terms on a mortgage, even though she has not been charged with wrongdoing or convicted of a crime.
In a statement released through her lawyer on Monday evening, Ms. Cook said that “no cause exists under the law” for Mr. Trump to fire her.
“I will not resign,” she said. “I will continue to carry out my duties to help the American economy as I have been doing since 2022.”
Read more: https://www.nytimes.com/2025/08/26/us/politics/lisa-cook-fed-governor.html?unlocked_article_code=1.hE8.oyr3.s4yYTqcf14ZD
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