Federal Reserve Governor Lisa D. Cook, appointed in 2022, has a robust academic and professional background in economics. She holds a PhD from the University of California, Berkeley, a BA in philosophy, politics, and economics from Oxford University as a Marshall Scholar, and another BA from Spelman College. Prior to her role at the Fed, Cook served as a professor of economics and international relations at Michigan State University, and she has held positions at the Council of Economic Advisers under President Obama, the Treasury Department, and the Federal Reserve Bank of Chicago’s board of directors. Her research focuses on macroeconomics, economic development, and innovation, with publications in peer-reviewed journals. Supporters, including the Center for Economic and Policy Research, have highlighted her qualifications as making her well-suited for the Board of Governors, emphasizing her expertise in areas like financial stability and inclusive economic growth.

Criticisms of Cook’s appointment have often centered on claims that she is a “DEI hire,” suggesting her selection prioritized diversity over merit, particularly as the first Black woman on the Fed’s Board. Opponents, including some Republican senators during her confirmation and outlets like the American Institute for Economic Research, argued that her experience in monetary policy was insufficient, pointing to her background in economic history rather than direct central banking expertise. Additionally, a 2024 City Journal investigation accused her of scholarly misconduct, including plagiarism and misrepresentation in her work, which fueled narratives portraying her as unqualified or “over her head.” These critiques have been echoed in conservative media and online forums, framing her role as emblematic of broader concerns about diversity initiatives in high-level positions post-civil rights era.

Recent developments, as of August 20, 2025, have seen President Donald Trump publicly calling for Cook’s resignation, citing allegations of mortgage fraud raised by ally William Pulte, who accused her of falsely claiming multiple primary residences to secure favorable loan terms. This has been reported across major outlets like NPR, CBS News, and Reuters, with Trump stating on Truth Social that she “must resign, now!” amid efforts to influence the Fed. While these claims have intensified scrutiny and portrayed her tenure as an “embarrassment” in some circles, Cook has not responded publicly, and no formal investigation has been confirmed. The situation reflects ongoing partisan tensions over Fed independence, with defenders noting that such attacks may stem more from political motivations than substantive issues, especially given her historic appointment and the lack of prior ethics violations in her record.