Fed Gov. Lisa Cook Says Central Bank Job Is ‘Worth the Scrutiny’ After Trump Tried To Fire Her

Federal Reserve Gov. Lisa Cook has made her first public comments since President Donald Trump attempted to fire her, refusing to answer questions about the ongoing legal drama but saying the chance to help lead the central bank was "worth the scrutiny."

"It is the honor of my life to serve on the Board of Governors of the Federal Reserve System. I will continue to carry out my sworn duties on behalf of the American people," Cook said on Monday at the Brookings Institution in Washington, DC.

Cook's comments marked the first time she has spoken publicly since Trump attempted to fire her in August over allegations of mortgage fraud, an action she is currently challenging in court.

"As many of you know, I am involved in an ongoing legal case," said Cook. "Questions related to this case and its potential impact on the Federal Reserve have been addressed at length. Because the case is ongoing, it would be inappropriate for me to comment further today."

Although Cook declined to take any audience questions related to her legal battle with Trump, she did speak briefly on the enduring scrutiny that attends high-profile roles of public service.

“I would say that it is definitely worth the scrutiny," she said. "I’ve been motivated to do public service, given my family’s history, for example, in the civil rights movement, and my participation in it myself. And then I had to learn to have a thick skin if I thought the principle was worth pursuing.”

Last month, the Supreme Court ruled that Cook can remain in her role as a Fed governor at least through January, when the court will hear oral arguments on Trump's attempt to fire her.

The decision meant that Cook has continued to participate in the Federal Open Market Committee (FOMC) votes on interest rate policy, including last week's meeting, where she joined the majority in voting for a quarter-point rate cut.

Trump, in August, attempted to fire Cook over allegations that she committed mortgage fraud by claiming two separate properties as her primary residence. Cook challenged the move by claiming she wasn't granted due process, and arguing that the allegations didn't constitute sufficient cause for removal.

A lower court judge temporarily blocked Cook's removal, writing that Cook was "substantially likely" to succeed in her argument that Trump violated the Federal Reserve Act in firing her. An appeals court upheld that ruling, leading the White House to ask the Supreme Court to intervene.

The Supreme Court's terse order refrained from commenting on the case, saying merely that the White House's request is "deferred pending oral argument in January 2026," without setting a specific date for the hearing.

Cook keeps options open for December

In her economic commentary, Cook struck a balanced tone and did not make strong remarks about her view on the likelihood of another rate cut at the next FOMC meeting in December.

She did not commit to another rate cut, but noted she is "attentive to all the indicators" and that each meeting, including December’s, is "a live meeting."

Cook described the U.S. economy as facing ongoing challenges from inflation, which remains above the Fed’s 2% target, but said that she anticipates price increases due to tariffs will be temporary.

She said she sees the labor market as generally solid but gradually cooling with some risks, especially for vulnerable households, and acknowledges the impact of slower payroll growth and a slight uptick in unemployment.

"The slightly rising unemployment rate indicates the labor market is softening, but only modestly," she said. "There appear to be worsening outcomes for vulnerable and low- to middle-income households in the labor market.”

Cook said her baseline view is that rate policy decisions will depend on incoming data about inflation trends, labor market conditions, and the persistence of tariff effects.

“Every meeting, including December’s, is a live meeting," she said. "I determine my monetary policy stance each meeting, based on the incoming data from a wide variety of sources, the evolution of my outlook, and the balance of risks.”