ANN ARBOR, Mich., Aug. 22, 2025 — After repeated attacks against Federal Reserve Chair Jerome Powell, President Trump threatened to fire Federal Reserve Governor Lisa Cook if she refused to resign. These threats are part of President Trump’s efforts to reshape the leadership of the nation’s central bank, an institution that depends on political independence to maintain the country’s economic stability. After the threats, state Rep. Jason Morgan (D-Ann Arbor) issued the following statement:
“Donald Trump is running the same playbook he always does: smear, intimidate and bully anyone who stands in his way — all to distract from his own corruption. Every time Trump gets cornered — whether it’s fraud cases or the Epstein files — he invents a new circus. His attack on Federal Reserve Governor Lisa Cook is no different: it’s a lie, plain and simple. It’s designed to cover for himself and test the limits of his power.
“Lisa Cook has been a leading economist, a Michigan State University professor and has a deep understanding of the job of the Federal Reserve. She’s earned her seat. Trump just wants to shove her aside, pack the Federal Reserve with yes-men and rig rates for his own political gain. I applaud her for refusing to bow to the threats of a wannabe dictator. Here in Ann Arbor, we know that truth, integrity and justice will always outlast his lies.”
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