Introduction
This article was flagged for fact-checking after users raised questions about whether a U.S. president has ever fired a Federal Reserve governor, as reported in the context of Lisa Cook’s potential ouster by President Donald Trump. Several important claims in the article, including the legality and historical precedent of dismissing a Fed governor, have significant implications for U.S. monetary policy and public trust in the Federal Reserve’s independence.
Historical Context
The structure of the Federal Reserve Board of Governors was established in 1913 to provide stability and independence for U.S. monetary policy. Each member is appointed by the president and confirmed by the Senate for staggered 14-year terms, in part to insulate the board from political pressure. The independence of the Fed, and especially its Board of Governors, is a long-guarded principle. Questions over presidential interference have surfaced in the past, but the legal and historical framework has consistently underlined that governors cannot be removed without cause.
Fact-Check of Specific Claims
Claim #1: President Donald Trump has fired Federal Reserve Governor Lisa Cook, effective immediately, and plans to install his own nominee.
The article states, “Trump says Cook is fired, effective immediately,” and that her dismissal is already underway. According to federal law, Federal Reserve governors are confirmed for 14-year terms and can only be removed “for cause.” There is no indication in the article or from reputable sources that “cause” (such as malfeasance, neglect of duty, or criminal behavior) has been cited. Legal experts and historical records confirm that no Federal Reserve governor has ever been dismissed by a president; removal would almost certainly trigger a protracted legal challenge. Lisa Cook’s term is noted to continue until January 2038 in the article, aligning with her official appointment. There is currently no evidence of a successful or effective removal by a president to date.
Relevant Source: U.S. Code Title 12, Chapter 3, Section 242; statements from the Brookings Institution and U.S. Federal Reserve legal documentation.
Claim #2: If Trump replaces Cook, he would have named the majority of the Fed’s governors, strengthening his influence over U.S. monetary policy.
The article asserts, “If Trump replaces Cook, he would have named the majority of the Fed’s governors,” suggesting he could secure greater control over board decisions. Reviewing recent appointments: Trump nominated Michelle Bowman, Christopher Waller, Stephen Miran (2025); Biden appointed Lisa Cook, Philip Jefferson, Michael Barr in 2022; Powell was originally appointed by Obama and later elevated by Trump. If Cook’s seat became vacant and Trump filled it, he would indeed have named or elevated a majority of sitting members. This claim is accurate, though it assumes legal hurdles to removing Cook are overcome.
Relevant Source: Federal Reserve Board biographies and Congressional Research Service documentation.
Claim #3: There is historical precedent for a U.S. president firing a Federal Reserve governor.
The user’s question goes to the heart of a central claim. The article implies the action “could mark another historic first,” should Cook’s ouster be successful. According to congressional, legal, and Federal Reserve System records, there has never been a documented case of a president successfully firing a Federal Reserve governor. While the law specifies governors may only be removed “for cause,” no sitting president has set such a precedent in the Fed’s history. Legal scholars—including those cited by major news outlets and academic analyses—agree that presidential removal of a sitting Fed governor without cause would be an unprecedented act. Thus, the article’s suggestion that Cook’s removal “could mark another historic first” is accurate in context.
Relevant Source: Congressional Research Service, the Federal Reserve Act, and public statements by legal scholars.
Claim #4: Federal Reserve Chair Jerome Powell was initially nominated to the board by President Barack Obama (2012), later appointed as Chair by President Trump (2017), and reappointed as Chair by President Biden (2022).
The article details, “Obama nominated Jerome Powell to the Fed board in 2012, Trump nominated Powell to his current role as Chairman of the Federal Reserve in 2017, and Biden reappointed Powell in 2022.” This chronology is correct per records from the Federal Reserve and U.S. Senate. Powell was nominated as a governor by Obama, later elevated to Chair by Trump, and his term as Chair was subsequently renewed by Biden.
Relevant Source: Federal Reserve official biography and Senate voting records.
Conclusion
The article accurately describes the unique nature of the current situation involving Lisa Cook and the potential for an unprecedented presidential removal of a sitting Federal Reserve governor. No historical precedent exists for a president firing a confirmed Fed governor, lending importance to Cook’s potential legal challenge. While the article is generally careful to distinguish between Trump’s statements and actual legal actions, readers should be aware that any removal would require valid legal cause to withstand scrutiny, and it would likely be subject to extended legal review and court intervention. The reporting is consistent with the facts but should be understood within the context of an ongoing and possibly unprecedented legal dispute about the boundaries of presidential authority over the Federal Reserve.
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Link to Original Article
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