Washington, D.C. — Today, the U.S. Supreme Court ruled that President Donald Trump could not fire Lisa Cook from the Federal Reserve’s Board of Governors while the litigation process continues. In response, Michael Negron, senior fellow for economic opportunity at the Center for American Progress, issued the following statement:
Fed independence is critical to a strong and growing economy, and the court today rejected President Trump’s reckless and illegal attempt to interfere with the Fed’s autonomy. The Trump administration’s attempt to remove Lisa Cook, as well as its unfounded criminal investigation into Chair Jerome Powell, are blatant abuses of power to target political enemies at the expense of democracy and economic stability. The Fed must be allowed to independently make monetary policy decisions according to economic data and objectives and free from political influence and interference.
For more information or to speak with an expert, please contact Sam Hananel at [email protected].