Trump Hints at Nominee for Open Fed Post After Firing Governor

One day after President Donald Trump fired Federal Reserve Governor Lisa Cook—who refused to vote to lower interest rates and has been accused of mortgage fraud—he already has a replacement in mind.

“I think I, maybe, in my own mind, I have somebody that I like,” the president told The Daily Signal.

“Look, we just put a very good man in one position. We might switch him to the other,” he said. “It’s a longer term, and I could pick somebody else, but we’re very happy with the person we have in there, and we’ll have a majority very shortly. So, that’ll be great.”

Trump could be alluding to economist E.J. Antoni, who Trump recently nominated as the next commissioner of the Bureau of Labor Statistics. BLS commissioners have four-year terms, while Fed governors serve 14-year terms.

Trump thinks housing prices will decrease once his supporters have a majority on the Fed Board of Governors.

“People are paying too high an interest rate,” he said. “That’s the only problem with housing. We have to get the rates down a little bit, and when we do, it’s going to be a tremendous difference. The country is doing so well, it sort of blows through the fact that we have a man who’s too late, but not doing a very good job.”

He was referring to Fed Chairman Jerome Powell, whom he often references with the pejorative “too late.”

“The recommendation from a certain person was not a great recommendation,” Trump said. “That person vouched for him, but we’re doing a very careful study.”

He said Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick are involved in the decision-making.

Cook, the Fed governor Trump fired, has said she will challenge the president in court.

“Cook has indicated through her personal attorney that she will promptly challenge this action in court and seek a judicial decision that would confirm her ability to continue to fulfill her responsibilities as a Senate-confirmed member of the Board of Governors of the Federal Reserve System,” the Fed said in a statement.

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