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American economist (born 1964)
Lisa DeNell Cook is an American economist who was sworn in as a member of the Federal Reserve Board of Governors in 2022. She is the first black woman to sit on the board. Before her appointment to the Federal Reserve Board, she was elected in January 2022 to the board of directors of the Federal Reserve Bank of Chicago. She was also a research associate at the National Bureau of Economic Research.
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Central banking system of the US
The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the American monetary system. Although an instrument of the U.S. government, the Federal Reserve System is considered an independent central bank due to its structural insulation from political interference.
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A Supreme Court ruling in June allowed Cook to stay in her job, but it did not bar the White House from trying to fire her again.
The president has tasked the committee with investigating whether Lisa Cook made false statements about two mortgages she took out.
Trump creates a White House panel to probe Fed Governor Lisa Cook over alleged mortgage fraud, testing “for cause” limits on removing Fed officials.