Donald Trump’s push to fire renowned Georgia economist test limits of power

A Georgia native who is the first Black woman on the Federal Reserve board is at the center of a pressure campaign by President Donald Trump and his allies that could have far-reaching implications.

Trump is warning that he’ll seek to fire Lisa Cook if she doesn’t resign her post, part of an effort to replace the leadership of the nation’s central bank.

Trump is trying to capitalize on statements by Bill Pulte, director of the Federal Housing Finance Agency, that accuse of Cook falsifying documents involving mortgages she holds in Georgia and Michigan.

Cook, a renowned economist from Milledgeville whose term lasts through 2038, has said she has “no intention of being bullied to step down.”

“I do intend to take any questions about my financial history seriously as a member of the Federal Reserve,” she said in a statement, “and so I am gathering the accurate information to answer any legitimate questions and provide the facts.”

Trump has relentlessly attacked Fed Chair Jerome Powell, pressing him to cut interest rates because he believes it will juice the economy. But the Fed has kept borrowing costs steady, partly over fears that Trump’s tariffs could push prices higher.

Now the president is taking aim at Cook, whose seat he could fill with a loyalist.

“I’ll fire her if she doesn’t resign,” Trump told reporters in Washington last week. “What she did was bad.”

Many legal experts say he can’t fire Cook without cause, such as proven misconduct. The Washington Post reported no president has ever attempted to oust a sitting Fed board governor, meaning Trump’s next move could trigger a constitutional clash.

Things to know

Good morning! Here are three things to know for today:

Globetrotting

Credit: Miguel Martinez/AJC

Credit: Miguel Martinez/AJC

Gov. Brian Kemp is embarking on an international trip this week to court new business in Brazil and Argentina, with a host of site visits and meetings with government leaders planned in both nations.

He announced the trip this morning, with plans to take a delegation that includes Republican Agriculture Commissioner Tyler Harper. Adjutant General Dwayne Wilson will join the trip in Argentina for meetings with members of the Georgia National Guard and their counterparts as part of a federal partnership program.

South American companies have invested $160 million in Georgia over the past six years, creating more than 1,000 jobs, state officials say.

Under the weather

Credit: AJC file photo

Credit: AJC file photo

Throughout the 1980s, Georgia was hit by nine natural disasters that caused at least $1 billion of damage. In 2024 alone, there were 13.

Billion-dollar disasters have been steadily increasing since 1980, with 14 in the 1990s, 25 in the 2000s and 37 in the 2010s. In fact, of all the damage caused by natural disasters since 1980, more than 30% of it has happened in the last three years alone, according to Jason Rudis, vice president of state government relations for the Reinsurance Association of America.

The most common category is severe weather like major thunderstorms. But they’re not the most expensive. Hurricanes and tropical storms are responsible for up to $50 billion in damages since 1980 compared to $20 billion from other severe storms.

“That’s your culprit of what’s driving up the damage and costs. It’s tropical cyclones,” Rudis told state lawmakers last week.

State lawmakers are studying the impacts of these storms on insurance rates to form the basis of what will be an election-year push to provide relief to farmers and homeowners.

Rudis suggested lawmakers help more people harden their homes against severe weather by helping them pay for things like fortified roofs.

Endorse me, please

Credit: Arvin Temkar/AJC

Credit: Arvin Temkar/AJC

U.S. Rep. Buddy Carter appears to be taking his cues from President Donald Trump’s social media posts in his quest to earn a coveted endorsement for his 2026 Senate campaign.

Trump took to Truth Social earlier this month to vent his frustration about interest rates, demanding that Federal Reserve Chair “Jerome ‘Too Late’ Powell must NOW lower the rate.”

Within a week, Carter introduced a bill in Congress to give Trump the power to fire Powell for any reason. He named it the Timely Oversight of Operations, Liquidity, Accountability, Targeting, and Effectiveness Act — aka the TOO LATE Act.

“Federal Reserve Chair Jerome Powell needs to go, and the President should have the power to make that decision without question,” Carter said in a news release.

Carter has been wooing Trump all summer. In June, he nominated the president for a Nobel Peace Prize for his role in negotiating a ceasefire between Israel and Iran.

The competition for Trump’s endorsement is fierce. Georgia’s three major Republican Senate candidates — Carter; U.S. Rep. Mike Collins, R-Jackson; and former college football coach Derek Dooley — were all in Peachtree City last week for Vice President JD Vance’s visit touting Trump’s tax and spending law.

Cha-ching

Hardworking Americans, the federal PAC aligned with Gov. Brian Kemp, raised more than $500,000 at a fundraiser last week at the home of Don and Stacey Leebern. We’re told the shindig took in contributions from some of the biggest donors in the state.

Oops

Credit: Arvin Temkar/AJC

Credit: Arvin Temkar/AJC

When trying to praise Vice President JD Vance last week during the Republican National Committee’s summer meeting in Atlanta, co-chair KC Crosbie slipped up by mentioning he-who-must-not-be-named.

“Vice President Pence — excuse me, Vice President Vance,” she said, quickly correcting herself after mistakenly referring to Mike Pence, who was vice president during President Donald Trump’s first term in office.

The faux pas prompted a loud boo from the crowd, to which Crosbie responded: “Sorry, it was a little slip. It’s early still.”

Pence is persona non grata with Trump and his supporters after he refused to halt the certification of President Joe Biden’s election in 2020.

Crosbie’s mistake was the only bit of drama during the RNC’s summer meeting. The committee unanimously elected Florida state Sen. Joe Gruters as the next chair to replace Michael Whatley. Whatley resigned to run for the U.S. Senate seat in North Carolina being vacated by Republican Thom Tillis.

Listen up

Credit: Arvin Temkar/AJC

Credit: Arvin Temkar/AJC

Today on the “Politically Georgia” podcast Republican U.S. Senate candidate Derek Dooley joins the show to talk about his stances on immigration, the Middle East, term limits and his meeting with President Donald Trump.

You can listen and subscribe to Politically Georgia for free at Apple Podcasts, Spotify or wherever you get your podcasts.

Have a question or comment for the show? Email us at politicallygeorgia@ajc.com or give us a call at 770-810-5297 and you could be featured on a future episode.

Trump today

President Donald Trump will sign executive orders and meet at the White House with South Korea President Lee Jae Myung.

Democracy award

Credit: Miguel Martinez/AJC

Credit: Miguel Martinez/AJC

The Congressional Management Foundation has awarded U.S. Sen. Raphael Warnock’s office its 2025 Democracy Award for the best constituent correspondence and outreach services.

The foundation provides guidance and best practices to members of Congress about staffing and running their various Washington and district offices. Each year, it honors lawmakers it deems to have the best run offices.

The group recognized Warnock’s office for its outreach efforts after Hurricane Helene damaged much of Georgia in September 2024, including communication of safety warnings and available resources. Warnock credited state director Bee Nguyen with leading an effort to ensure Georgians were well informed about Helene.

“Last fall, I instructed my staff to use every tool at our disposal to communicate critical safety and support information to every affected Georgian,” Warnock said in a statement. “This award recognizes my staff’s heroic service to Georgians across our state.”

Shoutouts

Credit: AJC file photo

Credit: AJC file photo

Today’s birthdays:

Belated birthdays

Want a birthday shoutout in the Politically Georgia newsletter? There’s a form for that. Click here to submit the shoutouts. It’s not just birthdays. We’re also interested in new jobs, engagements, birth announcements, etc.

Before you go

Credit: TNS

Credit: TNS

State lawmakers plan to meet for about six hours today to discuss sports betting. They’re scheduled to hear from a former North Carolina state lawmaker about that state’s experiences.

That’ll do it for us today. As always, you can send your best scoops, gossip and insider info to greg.bluestein@ajc.com, tia.mitchell@ajc.com, patricia.murphy@ajc.com and adam.beam@ajc.com.