US EditionAppeals court declines to let Trump remove Fed Governor Cook
- Today, the Court of Appeals in the District of Columbia denied the Trump administration's urgent petition aimed at overturning a lower court's order that halted the dismissal of Federal Reserve Governor Lisa Cook.
- This follows Trump's attempt last month to fire Cook based on mortgage fraud allegations seen as a pretext to remove her and appoint a loyalist, amid his push to influence the Fed's independence.
- Cook, a Biden appointee, was reinstated last week by a federal judge, and she can now attend the Federal Reserve's two-day meeting this week where officials will consider cutting interest rates.
- The two-to-one appeals court ruling dealt a significant blow to Trump's unprecedented firing attempt, as his administration indicated plans to appeal to the Supreme Court before the Fed's monetary decision.
- The ruling preserves Cook's seat on the seven-member Fed board during a crucial policy meeting, maintaining the Federal Reserve's institutional independence against executive pressure on interest rate decisions.
241 Articles
241 Articles
Missouri Independent
Appeals court says Trump can’t remove Federal Reserve’s Lisa Cook
WASHINGTON — An appeals court late Monday rejected the Trump administration’s request to move ahead with firing Federal Reserve board member Lisa Cook, as the president tries to pressure the independent board to lower interest rates. The 2-1 decision will allow Cook to partake in Tuesday’s Federal Reserve meeting, where the board will vote on whether to adjust interest rates. The Trump administration is likely to appeal the decision to the Sup…
Appeals court says Lisa Cook can stay on the Federal Reserve board
A federal appeals court has blocked President Trump from firing a member of the Federal Reserve’s governing board, just ahead of a key vote on interest rates.On a two-to-one vote, the divided court upheld an earlier decision from a district judge who found that firing Lisa Cook would likely violate the Federal Reserve Act, which includes provisions designed to insulate the central bank from political pressure from the White House.The decision co…
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