ORL Condemns Trump’s Firing of Federal Reserve Governor: “A Dangerous Political Attack on Economic Stability”

Washington D.C. - Greg Wilson, Senior Advisor to Our Republican Legacy and former Treasury Department official under Presidents Reagan and George H. W. Bush, made the following statement about President Trump's decision to fire Federal Reserve Governor Lisa Cook: 

"President Trump’s political decision to fire Federal Reserve Governor Lisa Cook, under dubiously legal 'for cause' claims, represents a dangerous and unprecedented attack on the independence of our central bank. Governor Cook deserves due process under the law and is right to oppose the President’s questionable attempt to fire her. Presidents Reagan and GHW Bush both recognized and supported the essential independence of the Federal Reserve.”

“As someone who served in the Treasury Department under two Republican administrations, I can say without hesitation that the independence of the Federal Reserve is not a luxury — it’s a cornerstone of stable economic policy. Undermining that independence threatens our financial markets, damages the value of the U.S. dollar, raises the cost of borrowing, and shakes global confidence in America’s economic leadership.”

Our Republican Legacy stands firmly behind the principles of sound monetary policy and limited executive overreach. We support the Federal Reserve’s independence from political pressures and we oppose any effort by the President to politicize interest rate decisions to distract from the harmful consequences of his erratic and irresponsible trade, tariff, and fiscal policies.

We call on President Trump to stop his political attacks on the Fed and reaffirm his commitment to its independence. We also urge Congress to reassert its constitutional role in fiscal and trade policy, investigate the economic fallout from these reckless decisions, and take legislative action to restore trust in the American economy.

The strength of our economy has always rested on the rule of law and respect for institutional norms. Undermining those foundations for political gain is a betrayal of our Republican legacy."