Federal Judge Blocks Trump’s Attempt to Fire Fed Governor Lisa Cook
A federal judge has blocked President Donald Trump’s attempt to remove Federal Reserve Governor Lisa Cook.
“At this preliminary stage, Cook has made a strong showing that her removal violated the Federal Reserve Act’s ‘for cause’ provision,” U.S. District Judge Jia Cobb wrote Tuesday evening. She granted a preliminary injunction, allowing Cook to remain in her role.
The ruling comes just one week before the Fed’s next policy meeting, scheduled for September 16, and preserves the independence of the Federal Reserve. Judge Cobb will issue an order requiring the Fed to let Cook continue serving.