Washington, D.C. – In a stunning announcement that sent shockwaves through the financial and political world, former U.S. President Donald Trump declared on Tuesday that he had “just fired” Federal Reserve Governor Lisa Cook.
Trump, who has repeatedly criticized the Federal Reserve during and after his presidency, made the claim in a fiery social media post, accusing Cook of “failing the American people” and suggesting she played a role in what he described as “bad economic management.”
“I just FIRED Lisa Cook. She was a disaster for our economy, pushing woke ideas instead of helping America grow!” Trump wrote.
The announcement has sparked immediate confusion, as Trump currently holds no official power over the Federal Reserve. By law, only the sitting U.S. President can nominate or remove members of the Fed’s Board of Governors, subject to Senate approval. President Joe Biden appointed Lisa Cook in 2022, making her the first Black woman to serve on the Fed’s board.
Financial markets reacted with volatility in the hours following Trump’s post, with Wall Street analysts warning that such statements could create uncertainty about the independence of the Federal Reserve.
White House officials have not yet commented on Trump’s claim, while the Federal Reserve declined to issue an immediate response.
Political analysts note that the move may be part of Trump’s strategy to strengthen his influence over economic policy discussions ahead of the 2024 election.
For now, Lisa Cook remains officially a member of the Federal Reserve Board of Governors, but the controversy surrounding Trump’s declaration is expected to dominate headlines in the coming days.