Ex-Fed chairs and top economists urge Supreme Court to let Lisa Cook keep her job

Alan Greenspan, Ben Bernanke, and Janet Yellen joined former treasury secretaries and top economists from both parties in filing a "friend of the court" brief arguing Cook should remain at the Fed. Otherwise, the central bank's traditional separation from the executive branch will be severely damaged, undercutting Congress's original intent in establishing the Fed.

"Granting the government’s request to remove Governor Cook from the Board immediately would upset these longstanding protections and the essential functions they serve," the brief said. "Doing so would expose the Federal Reserve to political influences, thereby eroding public confidence in the Fed’s independence and jeopardizing the credibility and efficacy of U.S. monetary policy."

The Fed's independence, it said, is a "critical feature of our monetary system."

The roster of 18 signatories included ex-Treasury secretaries Robert Rubin and Larry Summers; Jason Furman, who served as a top economist under President Barack Obama; Jared Bernstein and Cecilia Rouse, who served in similar roles under President Joe Biden. No economic official from the first Trump administration was a signatory.

Trump has sought to pressure the Fed into lowering interest rates, arguing it'll unleash more economic growth. He fired Cook last month over allegations of mortgage fraud, which she is challenging in court. In the meantime, she is still able to report to the Federal Reserve and carry out her professional responsibilities including casting a vote to decide interest rates.