NEWYou can now listen to Fox News articles!
Lisa Cook’s ascension to the Federal Reserve was historic from the start.
Appointed by former President Joe Biden in 2022, she became the first black woman to serve as a governor on the Fed board — a seven-member panel that sets national interest rates and oversees the banking system.
Now, she stands at the center of another historic moment, as the Supreme Court ruled Monday against President Donald Trump’s effort to fire her, preserving long-standing protections around the central bank’s independence.
TRUMP VS THE FEDERAL RESERVE: HOW THE CLASH REACHED UNCHARTED TERRITORY
Cook’s legal fight traces back to late August, when Trump said he was firing her from the Federal Reserve Board of Governors, the seven-member body that helps set monetary policy and oversee the U.S. banking system.
He alleged she misrepresented information tied to a trio of mortgages she obtained before joining the central bank. Cook has denied any wrongdoing and has not been charged with a crime.
She sued Trump in federal court in Washington, D.C., to block her removal from the nation’s most powerful central bank. On Sept. 9, a district court judge barred Trump from firing her while the case proceeds, a decision later upheld by a federal appeals court.
A RARE FILING IN THE LISA COOK–TRUMP CASE COULD SWAY SUPREME COURT JUSTICES
Before joining the Fed board, the Oxford alumna and UC Berkeley-trained economist built a career in academia, including faculty roles at Harvard University and Michigan State University.
A graduate of Spelman College, Cook has been described by American economist Barry Eichengreen as “part economist and historian,” with command of several languages, including French, Russian, Spanish and Wolof — a widely spoken language in Senegal.
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.
Before that, she served as a senior adviser on finance and development in the Treasury Department’s Office of International Affairs.
She joined the Fed board in May 2022 and was reappointed in September 2023 for a term that runs through January 2038.
Read the full article here
