Federal Reserve Gov. Lisa Cook received a spirited defense from one of her central bank colleagues and bitter insinuations of guilt from Trump administration officials while Republicans in the Senate are not taking sides on the matter.
Speaking this morning on CNBC, New York Federal Reserve President and CEO John Williams praised Cook for bringing “integrity and commitment to the Federal Reserve’s mission. She’s a very esteemed and highly respected economist.”
Williams also stressed the need for the central bank to operate independently, adding, “We know from history, from experience, that independent central banks can deliver low inflation, economic and financial stability, and we know the structure of the Federal Reserve is such as designed to have independent policy makers who are making decisions that affect the economy over the longer term, away from short term political pressure.”
Cook is the subject of a criminal referral to the Department of Justice by Bill Pulte, the director of the Federal Housing Finance Agency, who claimed she committed mortgage fraud. The DOJ has not brought charges against Cook. But the presumption of innocence was conspicuously missing in comments made by Treasury Secretary Scott Bessent used an interview on Fox Business to question why Cook isn’t speaking out against Pulte’s accusations.
“We haven’t heard her say ‘I didn’t do it,’” Bessent said. “She just keeps saying the president can’t remove her.”
National Economic Council Kevin Hassett went further to suggest Cook was behaving politically by refusing to take a leave of absence.
“The fact that she is not doing that suggests that she is partisan and is trying to make a partisan stance which is contrary to the independence of the Fed,” he insisted during a press briefing.
President Trump is already considering candidates for Cook’s job, telling reporters at the White House yesterday, “We have some very good people for that position.” But whether those “good people” could get a Senate confirmation is unclear. The Hill reports only Sen. Todd Young (R-IN) was willing to go on the record to discuss the issue by stating the president was “breaking new ground” in his efforts while adding, “I don’t know whether the law allows it or not.”
Trump has already nominated Stephen Miran to fill a Fed board vacancy, which has yet to the scheduled for a Senate confirmation hearing. During his first term, Trump saw two of his nominees for the Fed’s board, Stephen Moore and Mindy Shelton, fail to gain support in the Republican-controlled Senate.
As of now, Cook is still on the job, and the Fed issued a statement that said, “Cook has indicated through her personal attorney that she will promptly challenge this action in court and seek a judicial decision that would confirm her ability to continue to fulfill her responsibilities as a Senate-confirmed member of the Board of Governors of the Federal Reserve System.”
Another brilliant, intelligent woman sacrificed on the altar of an incompetent, narcissistic masochist, criminal minded, delusional, racist, mafia styled, fascist who is literally destroying our country from the inside of our government in all the institutions that are needed to keep our people safe and healthy, well educated, and free from fear. Surrounded by equally responsible fascist people. Cabinet members, Senators and congressmen and women sacrificing the country because of cowardice, fear, and greed.
Another brilliant, intelligent woman sacrificed on the altar for committing mortgage fraud. Why are democrats SO anti-crime, anti-law-abiding, and afraid of taking responsibility for their own actions? Why are the rules only for some of us and not for all of us?
Where’s the proof? Oh yeah with this incompetent administration a tweet is all that matters. It must be true.
It’s public records! And on Zillow, she listed it for rent. Her principal address.
This is someone who is in charge of our interest rates and she has consistently voted not to lower them.
This is someone who took out two mortgages on two homes in two different states, as a principal address within two weeks of each other and claimed them as her principal address to get HERSELF a lower interest rate.
Let that sink in
Dr. Cook is smarter than her detractors. She will win if the court is fair and balanced.