Attack on Federal Reserve Govenor Dr. Lisa Cook is "An Affront to the Progress Black Leadership has Made in America's Most Vital Institutions

NEW YORK (August 26, 2015) — Marc H. Morial, President and CEO of the National Urban League, issued the following statement today regarding President Trump’s attempt to remove Dr. Lisa D. Cook from her role as Governor on the Federal Reserve Board:

"Dr. Lisa D. Cook is not merely the first Black woman ever to serve on the Board of Governors of the Federal Reserve System—she is a distinguished economist whose career has been defined by rigorous scholarship, principled independence, and an unwavering commitment to economic inclusion. Since her confirmation and ongoing service, Dr. Cook has drawn on her expertise in banking systems, innovation, and macroeconomic policy to elevate the voices of communities too often excluded from policymaking.

"President Trump’s unprecedented move to ‘fire’ Dr. Cook—absent any legal authority or credible evidence of wrongdoing—is nothing less than a witch hunt. It is a baseless character assassination and racially motivated targeting of one of the nation’s most accomplished economists. This dangerous assault on the independence of our central bank and its ability to function free from political interference cannot stand.

"The National Urban League has long championed Dr. Cook’s leadership. In January 2022, we joined a multiorganizational letter urging the Biden Administration to appoint more than one Black American to the Fed Board. Once nominated, we vigorously advocated for her confirmation, recognizing the critical role that diverse perspectives play in shaping equitable monetary policy.

"This attempt to delegitimize Dr. Cook is not just an attack on one individual—it is an affront to the progress Black leadership has made in America’s most vital institutions. It is racially motivated, misogynistic, and corrosive to our democracy. We stand firmly with Dr. Cook and with all Black leaders who face politically motivated attacks. The National Urban League will continue working with allies across the civil rights and policy communities to defend both her right to serve and the integrity of the Federal Reserve. Politicizing the tenure of Federal Reserve governors jeopardizes public confidence and threatens the economic stability that all Americans depend upon."