Trump Can’t Fire Fed Governor Lisa Cook Before FOMC Meeting, US Appeals Court Rules
The ruling means that she can likely attend the Fed’s highly anticipated Sept. 16-17 meeting to vote on whether to lower interest rates.
A US appeals court blocked President Donald Trump from removing Federal Reserve Governor Lisa Cook from her post while her lawsuit challenging the dismissal proceeds.
In a win for the embattled economist, an appeals court in Washington on Monday affirmed that Cook can continue working for now. The ruling means that she can likely attend the Fed’s highly anticipated Sept. 16-17 meeting to vote on whether to lower interest rates. Trump is expected to ask the Supreme Court to step in.
Cook sued Trump last month after the president moved to oust her over allegations of mortgage fraud, which she denies. The lawsuit has emerged as a major flash-point in the growing clash between the White House and the Fed, which has resisted Trump’s demands to lower interest rates.
US District Judge Jia Cobb on Sept. 9 ruled that Cook could remain on the job as her case proceeded, saying that Trump’s attempt to oust her likely violated the law. The appeals court decision allows that ruling to stand for now.
Representatives of Cook, the White House and the Department of Justice didn’t immediately respond to a request for comment.
