A federal appeals court on Monday rejected President Trump’s attempt to fire Federal Reserve Governor Lisa Cook, leaving her in place ahead of this week’s key policy meeting. The D.C. Circuit’s 2-1 ruling gives the administration only hours to seek Supreme Court intervention before the Fed meets to consider cutting interest rates.
The White House said it will appeal, insisting Trump “lawfully removed Lisa Cook for cause,” citing allegations of past mortgage fraud that Cook denies. U.S. District Judge Jia Cobb earlier ruled those claims were likely insufficient grounds for removal under the law governing the Fed.
Judges Bradley Garcia and J. Michelle Childs, both Biden appointees, formed the majority, finding Cook was denied due process. Trump appointee Gregory Katsas dissented.
