Washington —

Throughout the Federal Reserve’s 111-year history, its top policymakers have mostly been white men. Now some recent progress diversifying the ranks of the world’s most powerful bank is being undone.

Under pressure from some congressional lawmakers to improve diversity, then-President Joe Biden appointed Adriana Kugler, Lisa Cook and Philip Jefferson — all people of color — to the Fed’s Board of Governors. Kugler was the first Hispanic on the seven-member board, and Cook was the first Black woman.

President Donald Trump earlier this week said he fired Cook, citing allegations of mortgage fraud that haven’t been taken to court. It was the first time a US president has acted to remove a Fed governor. On Thursday, Cook sued to challenge Trump’s removal order, with her attor

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