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.
273 Articles
273 Articles
Trump to Appeal Ruling Allowing Fed Governor Lisa Cook to Keep Her Job
The Trump administration said on Sept. 16 that it will appeal a three-judge panel’s ruling that prevents the president from firing Federal Reserve Governor Lisa Cook. On Sept. 15, a panel of the U.S. Court of Appeals for the District of Columbia Circuit ruled 2–1 to uphold a lower court’s preliminary injunction preventing Cook’s removal from the Fed’s board of governors while pending litigation plays out. “The President lawfully removed Lisa Coo…
Appeals court says Trump can’t remove Federal Reserve's Lisa Cook • Daily Montanan
Chair of the Federal Reserve Jerome Powell, left, administers the oath of office to Lisa Cook, right, to serve as a member of the Board of Governors at the Federal Reserve System during a ceremony at the William McChesney Martin Jr. Building of the Federal Reserve May 23, 2022 in Washington, D.C. (Photo by Drew Angerer/Getty Images)WASHINGTON — An appeals court late Monday rejected the Trump administration’s request to move ahead with firing Fed…
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…
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