Lisa Cook, the first black woman to serve as a governor on the Federal Reserve Board, has been at the center of a historic moment after the Supreme Court ruled against President Donald Trump’s effort to fire her. The ruling preserves long-standing protections around the central bank’s independence.
Background
Cook was appointed by former President Joe Biden in 2022 and has denied any wrongdoing after Trump alleged she misrepresented information tied to a trio of mortgages she obtained before joining the central bank. She sued Trump in federal court to block her removal from the nation’s most powerful central bank.
A district court judge barred Trump from firing her while the case proceeds, a decision later upheld by a federal appeals court. Before joining the Fed board, Cook built a career in academia, including faculty roles at Harvard University and Michigan State University.
Cook has also held senior roles in government, serving as a senior economist on then-President Barack Obama’s Council of Economic Advisers from 2011 to 2012. She joined the Fed board in May 2022 and was reappointed in September 2023 for a term that runs through January 2038.
Original reporting: Fox News (HLL/CB) — read the source article.
