US Fed Governor Lisa Cook sues Trump over attempt to fire her
Updated: Aug 28, 2025 at 14:15 EDT
Fed Governor Lisa Cook has sued former President Donald Trump over his alleged attempts to fire her, claiming it was a violation of the Federal Reserve Act for a president to interfere with the independent central bank. Cook, who is African-American, alleges that Trump called for her firing in a phone call with Chair Jerome Powell in 2020 for reasons rooted in racial bias. Cook's lawsuit comes in the wake of another lawsuit filed by the Fed's Vice Chair Richard Clarida, who is retiring later this year. Clarida alleged that he was unfairly blamed for trading Fed funds ahead of Fed policy meetings.
Cook's lawsuit also comes as Trump is reportedly considering a run for the Republican nomination in the 2024 presidential election. If elected, Cook's lawsuit alleges, Trump could attempt to interfere with the Fed again.
