Last night, President Trump fired Federal Reserve Governor Dr. Lisa D. Cook, after the Bill Pulte, the director of the Federal Housing Finance Agency, asked the Department of Justice to investigate her for suspected mortgage fraud. This is great news, because Lisa Cook is an unqualified, inept diversity hire. Her publication record is thin, and focused mostly on racial issues, not monetary policy. As economist John Cochrane noted: "[In her publication] you will find essentially nothing related to monetary policy, monetary effects on employment, interest rates, inflation, financial regulation or other traditional Fed topics." Worse still, she is not only unqualified but an unusually inept researcher. Her most publicized paper, published in 2014, claimed that Black patents declined in 1900 due to racial violence. But the decline had nothing to do with that. It was simply an artifact of her own dataset.