The Cook Controversy: One Governor, 600 Economists, and a Nation on Edge Nearly 600 economists—including high-profile names like Nobel laureate Joseph Stiglitz and former Council of Economic Advisers Chair Jared Bernstein—have signed an open letter in support of Federal Reserve Governor Lisa Cook. Their message? Leave the Fed alone. The letter argues that threats to remove Cook from her post—initiated by former President Donald Trump over unproven mortgage allegations—represent a fundamental threat to central bank independence. Cook, notably the first Black woman to serve on the Federal Reserve Board of Governors, was appointed in 2022 to a 14-year term set to expire in 2038. Her legal team is suing Trump, claiming he lacks the constitutional authority to fire her. Trump,…
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