Legal Ruling Highlights Fed Independence and Criticizes Administration

Judge Cobb noted that Trump’s attempt to fire Cook likely violated the Federal Reserve Act, which limits removal to actions related to a governor’s behavior in office. She also emphasized that Cook’s due process rights were at risk and that removing her could cause irreparable harm to the Fed’s independence.

“Cook is one of seven members of a Board designed to resist political pressure, not implement a President’s agenda,” Cobb explained.

Cobb criticized the Trump administration for claiming the president could remove Cook without oversight, calling the argument “absurd.” Cook’s attorney, Abbe Lowell, praised the ruling, saying it safeguards the independence of the Federal Reserve and allows Cook to continue fulfilling her duties as a Senate-confirmed Board Governor.