September 24, 2025
Dear the American public,
We, the undersigned organizations representing the interests of women across the country, write to oppose President Trump’s unprecedented attempted firing of Federal Reserve Governor Lisa Cook and his further attempts to politicize the country’s central bank. The effort to remove Dr. Cook was blocked by a federal judge, who found she made a strong showing that her removal was in violation of the law’s “for cause” provision and likely violated her Fifth Amendment due process rights, as well as being contrary to the public interest. The Trump administration has already indicated it will appeal, continuing to target Governor Lisa Cook as a key step towards Trump’s ultimate goal of influencing and controlling the Federal Reserve. This effort has serious implications for the economy – and for women’s pocketbooks.
Dr. Cook is supremely qualified for her role as a Federal Reserve Governor. She has extensive experience and expertise as an independent-minded, distinguished economic researcher, thinker, and analyst who has worked on economic policy from a mix of vantage points for decades, including government and academia. It was based on this extensive experience and leadership that she was nominated to become a Governor and she has been a steady, knowledgeable member of the board during her tenure.
The Federal Reserve Governors are tasked with managing the United States’ monetary policy, using credible data and economic expertise to support the long-term health and sustainability of the American economy. Their congressionally-given “dual mandate” – to pursue maximum employment and price stability – gives the Federal Reserve a unique and powerful role in shaping the economic reality of millions of women and their families every day. The Federal Reserve influences the terms for the financial transactions Americans rely on, including car loans, mortgage rates, and credit cards. Robust research finds that independent central banks are crucial for a country’s economic stability and are associated with a host of positive outcomes, including lower and less volatile long-term inflation. In countries with explicitly politicized central banks, interference by governing parties has done the exact opposite: Turkey and Argentina, for example, saw currencies collapse, inflation skyrocket, and food prices increase astronomically. Put simply, an independent and accountable Federal Reserve is essential to ensuring life is affordable for everyday Americans. Dr. Cook has demonstrated her commitment to this vital mission.
Dr. Cook also brings deep knowledge about the importance of an economic environment where all workers, especially women workers, can be full participants and thrive. Women purchase a majority of their household’s necessities such as groceries and home goods. Women also make up a growing number of small business owners and entrepreneurs seeking access to loans, and face a stubborn wage, income, and savings gaps. A majority of mothers are breadwinners, meaning that their families rely on their income to achieve economic stability. Many women are already experiencing the consequences of President Trump’s erratic economic policies, including difficulty affording the basics and the looming threat of a slowdown in the labor market. President Trump’s efforts to undermine the independence of the Federal Reserve and politicize its decisions risks paving the way for more actions designed to benefit the wealthiest interests, while raising costs and adding to economic uncertainty for women.
President Trump’s attempt to fire Governor Lisa Cook is without sound legal support. The President does not have the authority to remove her from her post and has offered no credible evidence that she is unable to perform her role, which is to objectively assess the state of the economy and make decisions to safeguard its long-term stability without outside political interference. The rationale being used to justify the President’s action has been wholly devoid of a fair, unbiased investigatory or auditing process and has sought to tarnish Dr. Cook through innuendo, smears, and inflammatory rhetoric. Moreover, the targeting of Dr. Cook is the latest in a long line of attacks on qualified women and women of color officials, relying on racism, sexism, and stereotypes to diminish and disrespect their skills, including Gwynne Wilcox, the first Black woman to serve on the National Labor Relations Board; Charlotte Burrows, chair of the Equal Employment Opportunity Commission; and Erika McEntarfer, former Commissioner of the Bureau of Labor Statistics.
If the Trump Administration succeeds in removing Federal Reserve governors at will, it will undermine decades of precedent and set the stage for Republicans and Democrats alike to remake the board to their liking when their party is in power. A central bank that is chained to the results of every election cycle cannot function in support of the American people.
President Trump’s attempt to fire Dr. Cook is an extraordinary abuse of power – and a step towards making life more expensive for women across the country. We urge policymakers and officials across parties and branches of government to vehemently oppose President Trump’s firing of Governor Lisa Cook and use every tool possible to reaffirm and protect the independence of the Federal Reserve.
Signed,
The National Partnership for Women & Families
Asset Building Strategies
Center for Economic and Policy Research
Center for Law and Social Policy (CLASP)
Family Values@Work Action
Institute for Women’s Policy Research
Legal Momentum, the Women’s Legal Defense & Education Fund
MomsRising
National Coalition on Black Civic Participation, Black Women’s Roundtable
National Employment Law Project
National Organization for Women
National Women’s Law Center
National Women’s Political Caucus
Women Employed
