US EditionSupreme Court lets Fed Governor Lisa Cook keep job pending oral argument in January
- The Supreme Court allowed Federal Reserve Governor Lisa Cook to remain in her position while it decides if President Trump can fire her, deferring a decision until January oral arguments.
- This legal conflict began when Trump dismissed Cook in late August, citing accusations of mortgage fraud as justification under the Federal Reserve Act, though Cook denies these claims and characterizes them as fabricated.
- The case centers on whether the president can remove Fed governors without cause and if courts can block such firings, with the Fed's independence and its key economic role emphasized in arguments.
- Cook’s lawyers argued removal threatens the economy and that she must receive official notice and a hearing, while the Justice Department asserted presidential justification for firing is not reviewable by courts.
- The court’s deferral maintains longstanding Fed independence for now and sets up a critical constitutional question likely to be resolved before June, with oral arguments scheduled for January.
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Fox Business
The Business TimesWhat is the significance of Trump's effort to remove the Fed's Lisa Cook?
President Donald Trump's effort to remove a member of the Federal Reserve's Board of Governors comes amid his push to reshape the composition of the central bank's panel that makes interest rate decisions.Trump attempted to fire Fed Governor Lisa Cook for cause this summer, accusing her of mortgage fraud and marking the first time a president has ever attempted to remove a Fed governor from office in the central bank's 112-year history. Cook has…
Supreme Court postpones decision, will allow Fed Governor Lisa Cook to remain in position for now
The U.S. Supreme Court ruled Wednesday that Federal Reserve Governor Lisa Cook will be allowed to continue serving on the central bank’s board at least until 2026, while justices weigh the legality of her removal by former President Donald Trump. The court scheduled oral arguments for January 2026, with a decision expected before the end of June next year. In its brief order, the court did not explain the reasoning behind its decision, but no ju…
Supreme Court allows Lisa Cook to remain at Fed, for now - Hawaii Tribune-Herald
WASHINGTON — The Supreme Court on Wednesday declined to allow President Donald Trump to immediately remove Lisa Cook from the Federal Reserve Board, saying it would instead review the administration’s efforts to oust her and reshape the central bank at oral arguments in January.
US President Trump has suffered a legal defeat in connection with the dismissal of Central Bank Governor Cook.
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