In Defense of Lisa Cook

Floor Speech

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Ms. WATERS. Mr. Speaker, I rise today in support of Lisa Cook. She is a member of the Board of Governors of the Federal Reserve. I rise to support her because there is an attempt to fire her if she does not retire or resign.

This attempt that has been made is because the President of the United States wants to take over the Federal Reserve. This is our central bank with responsibility for determining the interest rates, short-term interest rates.

We cannot allow the President of the United States to own, dictate, and tell the Federal Reserve what they can and cannot do. If he gets rid of Lisa Cook, he will have control of the central bank.

What he will do is insist on interest rates going down, but what people do not understand is this will cause inflation to rise.

This President has interfered with law firms and sued them. He has interfered with our educational institutions, threatening their funding if they do not do what they are told.

This now is a wannabe what? Taking over the central bank in order to determine the entire economy.

Mr. Speaker, I ask my colleagues to join with me and support Lisa Cook and Chair Powell at the central bank.

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