WASHINGTON D.C. — In response to President Donald Trump’s committee of inquiry into Federal Reserve Governor Dr. Lisa Cook, the Joint Center for Political and Economic Studies issued the following statement strongly opposing this decision.
“The Trump administration’s inquiry is the latest attempt in an ongoing effort to undermine Dr. Cook, a public servant with an exemplary record and qualifications to serve on the Federal Reserve Board,” said Joint Center President Dedrick Asante-Muhammad.
He continued, “Dr. Cook made history in 2022 as the first Black woman to serve on the Federal Reserve Board of Governors, and only the fourth African American ever to serve. Prior to her appointment to the Federal Reserve Board, Dr. Cook had a long career of distinguished service advising governments on macroeconomic issues, studying and researching economic growth, and teaching as a tenured professor of economics and international relations, most recently at Michigan State University, with extensive direct involvement with the Federal Reserve System.
Representation is not simply an act of symbolism. It shapes policy, determines who holds power, and whose economic realities influence decisions being made. Dr. Cook brings her lived experiences and deep economic policy expertise. Any effort to push her out raises the question: ‘If a stellar record like Dr. Cook’s is not enough to earn her respect, what message does that send to the next generation of economists?’
The independence of the Federal Reserve is critical to our economy. Targeting a sitting governor undermines public confidence at a moment when our country’s stability matters most.
The Joint Center will continue to stand with Dr. Cook and with Black leaders across government who face unjust attacks.”