Trump Administration's Impact on Federal Reserve

Lisa DeNell Cook (born 1964) is an American economist and a member of the Federal Reserve Board of Governors, having assumed office in May 2022 and reappointed in September 2023 for a term ending in 2038. She is notable as the first African American woman to serve on the Federal Reserve Board[1][2][6][8]. Cook holds a BA in Physics and Philosophy from Spelman College, where she was the first Marshall Scholar, and earned a second BA in Philosophy, Politics, and Economics from Oxford University. She completed her Ph.D. in Economics at the University of California, Berkeley, specializing in macroeconomics and international economics[2][3][6]. Her academic career includes faculty positions at Harvard University's Kennedy School of Government (1997–2002), where she was deputy director of Africa Research at the Center for International Development, and Michigan State University, where she has been a professor of economics and international relations since 2005 and gained tenure in 2013[1][2][3][6]. She was also a National Fellow at Stanford University's Hoover Institution (2002–2005). Cook has held significant advisory roles, including senior economist on the Obama Administration’s Council of Economic Advisers (2011–2012) and senior advisor on finance and development at the U.S. Treasury Department (2000–2001). She advised the Nigerian government on banking reforms and Rwanda on economic development[1][2][6]. Her research spans international economics, economic growth, innovation, financial markets, and the economic history of African Americans, notably linking racial violence during Jim Crow to suppressed patent activity. She also leads efforts to promote diversity in economics, directing the American Economic Association’s Summer Program for underrepresented minority students and serving on its Executive Committee[1][5][6]. In 2020, Cook contributed to the Biden presidential transition team’s review of financial regulatory agencies. She has also served on the board of directors of the Federal Reserve Bank of Chicago and the Federal Home Loan Bank of Indianapolis[1][5]. Cook is recognized for her scholarship, public service, and advocacy for inclusion in economics, and has been honored as a leading Black economist by Fortune magazine[5].

Donald John Trump, born June 14, 1946, in Queens, New York, is an American businessman, media personality, and politician. He graduated from the University of Pennsylvania’s Wharton School in 1968 with a degree in economics. In 1971, he took over his family’s real estate business, renaming it the Trump Organization, through which he expanded into building and managing skyscrapers, hotels, casinos, and golf courses. Trump gained widespread fame as the host of the reality TV show *The Apprentice* from 2004 to 2015, which helped establish his public persona as a successful entrepreneur. Trump entered politics as a Republican and was elected the 45th president of the United States, serving from 2017 to 2021. His presidency was marked by significant policy actions including tax cuts, deregulation, the appointment of three Supreme Court justices, renegotiation of trade agreements (notably replacing NAFTA with the USMCA), and a focus on immigration control including border wall expansion. He withdrew the U.S. from international agreements such as the Paris Climate Accord and the Iran nuclear deal, and engaged in a trade war with China. His administration’s response to the COVID-19 pandemic was criticized for downplaying the virus’s severity. Trump was impeached twice by the House of Representatives—first in 2019 for abuse of power and obstruction, and again in 2021 for incitement of insurrection—but was acquitted by the Senate both times. After losing the 2020 election to Joe Biden, Trump challenged the results, culminating in the January 6, 2021, Capitol riot. He remains a central figure in American politics, having won the 2024 presidential election and returned as the 47th president in 2025, continuing to promote policies aimed at economic growth, border security, and military strength[1][2][3][4].

James Brien Comey Jr. (born December 14, 1960) is an American lawyer who served as the seventh Director of the Federal Bureau of Investigation (FBI) from September 2013 until his dismissal in May 2017. Before leading the FBI, Comey held prominent roles in the U.S. Department of Justice, including U.S. Attorney for the Southern District of New York (2002–2003) and Deputy Attorney General (2003–2005), the latter being the second-highest position in the DOJ. After leaving government service in 2005, he worked as general counsel for Lockheed Martin and Bridgewater Associates, and was a scholar at Columbia Law School[1][3][4]. Appointed by President Barack Obama, Comey’s tenure as FBI director was marked by high-profile investigations. He oversaw the inquiry into Hillary Clinton’s use of a private email server while Secretary of State. In July 2016, he publicly criticized Clinton’s judgment but cleared her of criminal charges. However, shortly before the 2016 presidential election, Comey controversially announced the reopening of the investigation based on new emails, which many analysts believe influenced the election outcome that favored Donald Trump[1][2][5][9]. Under President Trump’s administration, Comey confirmed the FBI’s investigation into possible Russian interference and contacts with the Trump campaign. This period included Comey’s public refutation of Trump’s unsubstantiated wiretapping claims. On May 9, 2017, President Trump abruptly fired Comey, a decision that drew extensive media attention and political debate[2][5]. Most recently, in September 2025, Comey was indicted by a federal grand jury on charges of making false statements and obstruction[9]. His career remains significant in discussions of U.S. law enforcement and political history.

Barack Hussein Obama II, born August 4, 1961, in Honolulu, Hawaii, is an American politician, lawyer, and author who served as the 44th President of the United States from 2009 to 2017[2][3][8]. He is widely recognized as the first African American to hold the nation’s highest office, marking a historic milestone in U.S. history[1][2][3]. Obama’s early life was shaped by a diverse heritage—his mother, Stanley Ann Dunham, was a white American from Kansas, and his father, Barack Obama Sr., was a Kenyan economist[2][4][9]. He spent part of his childhood in Indonesia before returning to Hawaii, where he was raised primarily by his maternal grandparents[4][5]. Obama attended Columbia University, graduating with a degree in political science, and later earned a law degree from Harvard Law School, where he became the first African American president of the Harvard Law Review[2][3][4]. After law school, he worked as a community organizer in Chicago, a civil rights attorney, and a lecturer at the University of Chicago Law School[2][3]. He entered politics as a member of the Illinois State Senate (1997–2004) and then represented Illinois in the U.S. Senate (2005–2008)[2][3]. His 2008 presidential campaign, built on themes of “hope” and “change,” resonated with voters during a period of economic uncertainty and war[2]. Obama defeated Republican John McCain to become president and was reelected in 2012, defeating Mitt Romney[3][5]. As president, Obama’s major domestic achievements included the Affordable Care Act (expanding health insurance coverage), economic stimulus measures in response to the 2008 financial crisis, and the repeal of “Don’t Ask, Don’t Tell,” allowing LGBTQ individuals to serve openly in the military[2][4]. In foreign policy, he oversaw the withdrawal of U.S. troops from Iraq, authorized the operation that killed Osama bin Laden, and pursued the normalization of relations with Cuba[4][6]. He was awarded the Nobel Peace Prize in 2009 for his efforts to strengthen international diplomacy[1][2]. Since leaving office, Obama has remained active in public life through his foundation, speaking engagements, and media projects, though he has generally maintained a lower public profile than some predecessors[2]. He continues to be a prominent voice on issues such as democracy, climate change, and civic engagement. As of late 2025, Obama is not holding any official government position but remains a symbol of progress in American politics and a respected figure in global discourse[2].