Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
NEWYou can now hear FOX News Articles!
While it is still uncertain whether President Donald TrumpThe release of the governor of the Federal Reserve, Lisa Cook, who prepares a legal challenge, will be successful. Her potential departure gives him another chance of installing a candidate who is more on his monetary priorities.
The Federal reserve The board of directors, which is generally known as the Fed Board, consists of seven members or governors who are appointed by the President and confirmed by the Senate.
If Trump replaces Cook, he would have mentioned the majority of the feds of the Fed and reinforced his influence on the body that leads the US money policy.
Lisa Cook will take part in a meeting in the Federal Reserve Building in Washington, DC on June 25, 2025. (Saul Loeb/AFP/Getty Images)
Former president Joe biden Appointment by Philip Jefferson, Michael Barr and Cook in the Fed Board in 2022. Trump’s picks included Michelle Bowman in 2018, Christopher Waller in 2020 and Stephen Miran in 2025.
Former President Barack Obama nominated Jerome Powell For the Fed Board in 2012, Trump Powell nominated his current role as Chairman of the Federal Reserve in 2017, and Biden was experiencing Powell in 2022.
Trump names a replacement for Fed; Still looking for constant appointments
When Trump was asked about the replacement of Cook, Trump reporters in the White House said on Tuesday that he had some “very good people for this position”.
“We will have a majority shortly,” said Trump. “It will be great.”
The tensions between Trump and the Federal Reserve about monetary policy have intensified in the past few months. Trump blamed the chairman Jerome Powell for the non -vote of the goal of the Federal Fund, which could save the nation “hundreds of billions of dollars”.
President Donald Trump speaks to the Fed chairman Jerome Powell during a tour of the Federal Reserve in Washington, DC, on Thursday, July 24, 2025. (Official photo of the White House of Daniel Torok)
In the meantime, Powell has retained the most important credit target of the central bank within an area of 4.25% to 4.5% and maintained a measured waiting period, while the officials measure the economic effects of Trump’s tariffs.
A look at the unfolding struggle between Trump and Powell about the Fed policy
Cook’s climb first marked a historical one when she became the first black woman to act as governor in the Fed Board. Now their potential removal from the same role could first mark another historical value.
The way it looks, Trump says that Cook is immediately effective. But Cook and her lawyer Abbe Lowell argue that Trump has no legal authority to remove them. Your term in the Fed Board runs until January 2038.
The chairman of the Federal Reserve, Jerome Powell, swears in May 2022 as a member of the Board of Directors of the Governor Council of the Federal Reserve. (US Federal Reserve Photo)
The Federal Reserve recognized the potential legal steps of Cook and said in a statement on Tuesday that the US Central Bank “adheres to any court decisions”.
Click here to get the FOX News app
“Lisa Cook stated by her personal lawyer that you will immediately question this lawsuit in court and that a judicial decision would be striving for that would confirm your ability to continue to fulfill your responsibility as a member of the Senate of the Governor Council of the Federal Reserve,” wrote a spokesman for the Federal Reserve in a statement to Fox News Digital.
