Federal Reserve Governor Lisa Cook received more than $1M for legal fees during a dispute over her board position under former President Trump.
Federal Reserve Governor Lisa Cook disclosed receiving over $1M to cover legal expenses as she contested an attempt by former President Donald Trump to remove her from the central bank’s board. The funding was revealed in filings released Thursday, detailing financial support for her legal case.
Cook, appointed to the Fed in 2022, faced challenges to her board tenure during Trump’s administration. The disclosure provides insight into the costs associated with defending her position, though details on the funding source remain undisclosed.
The Fed has not commented on the matter, and market reaction has been muted as the disclosure pertains to past events rather than current monetary policy.