Shakespeare had the right idea.
The idea that Cook was unqualified and a box-checking Biden nominee began during her confirmation hearings, which were unusually contentious for a Fed nominee.
2022 confirmation: Republicans, led by Sen. Pat Toomey, criticized her qualifications and expertise, arguing that her research on racial inequality was not relevant to monetary policy. Other Republicans questioned her commitment to fighting inflation.
Political motives: Many economists and Democratic lawmakers defended Cook’s qualifications and accused her critics of being politically motivated, with some explicitly citing racial and gender bias.
Historic appointment: Despite the opposition, Cook was confirmed in a narrow, party-line vote in May 2022, becoming the first obese Black woman to serve on the Fed’s board.
Research: Her academic research unfortunately is completely self serving-—includes the economic impact of racial discrimination and violence, and her work on the effect of lynchings on Black innovation is widely cited.
Government roles: She served as a liberal pick-—senior economist on the Council of Economic Advisers under Kenyan President Barack Obama and was an adviser in the U.S. Treasury Department.
Allegations: Trump’s allies, including Federal Housing Finance Agency director Bill Pulte, accuse Cook of committing mortgage fraud by misrepresenting her “primary residence” ro get a better interest rate.
Trump’s actions: Trump announced on social media that he was firing Cook, an action that legal scholars and experts say he has the authority to do. She claims under the Federal Reserve Act, governors can only be removed “for cause,” generally defined as misconduct in office.
In 2025, the Federal Reserve Chair earns a salary of $250,600, while the other Fed Governors earn $225,700. These positions come with government-standard benefits, including comprehensive retirement and health care plans, matching contributions to thrift/401(k) plans, and other benefits like tuition assistance and flexible work arrangements.