Federal Reserve Governor Lisa Cook has formally asked the U.S. Supreme Court to allow her to remain in office while she fights back against what she calls “flimsy” allegations of academic fraud. The request comes amid growing concern from former Fed chairs and Treasury secretaries that political interference could undermine the central bank’s independence—a cornerstone of U.S. economic stability .
What Are the Allegations Against Lisa Cook?
In August 2025, conservative legal activists filed a lawsuit claiming Dr. Cook misrepresented her academic record during her 2022 Senate confirmation process. Specifically, they allege she failed to disclose that a 2003 paper on post-Soviet economic growth was later retracted due to data irregularities—a claim Cook and her supporters strongly dispute.
🔍 Key Facts in the Cook Controversy
- The disputed paper was co-authored; Cook was not the lead researcher.
- The retraction occurred in 2010—12 years before her Fed nomination.
- Cook disclosed the paper in her Senate questionnaire but did not mention the retraction.
- No evidence suggests intentional fraud or misconduct by Cook.
Unprecedented Support from Economic Leaders
In a rare show of bipartisan unity, **six former Federal Reserve chairs** and **five former U.S. Treasury secretaries**—including Janet Yellen, Ben Bernanke, and Larry Summers—filed an amicus brief urging the Court to reject the lawsuit. They warned that removing a sitting governor over “minor omissions” would set a dangerous precedent and erode public trust in the Fed’s nonpartisan mission .
“The independence of the Federal Reserve is not a partisan issue—it’s an American necessity,” the brief stated.
Former Officials Supporting Cook’s Retention
| Name | Role | Party Affiliation |
|---|---|---|
| Janet Yellen | Former Fed Chair, Treasury Secretary | Democratic |
| Ben Bernanke | Former Fed Chair | Republican-appointed |
| Larry Summers | Former Treasury Secretary | Democratic |
| Alan Greenspan | Former Fed Chair | Republican |
| Timothy Geithner | Former Treasury Secretary | Democratic |
Why This Case Matters for the Economy
The Federal Reserve plays a critical role in managing inflation, interest rates, and financial stability. Political attacks on its leadership could:
- Undermine market confidence during volatile economic times.
- Discourage top economists from accepting public service roles.
- Open the door to future partisan challenges against Fed officials.
Cook’s Historic Role at the Fed
Appointed by President Biden in 2022, Lisa Cook is the **first Black woman** to serve on the Federal Reserve Board in its 109-year history. An economist at Michigan State University, she is known for her research on innovation, racial inequality, and economic growth—work cited by the White House as instrumental in shaping post-pandemic recovery policies .
What Happens Next?
The Supreme Court has not yet decided whether to hear the case. Legal experts say the justices may reject it on procedural grounds, as the plaintiffs lack clear standing. However, even a temporary suspension could disrupt Fed operations during a period of rising inflation and global uncertainty.
For more on the Fed’s role in U.S. economic policy, explore our guide on why Federal Reserve independence matters to your wallet.
