Federal Judge halts Trump’s effort to remove Fed Governor Lisa Cook

Judge Blocks Trump’s Attempt to Fire Fed Governor
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, keeping Cook in her role.

Federal Reserve Independence Preserved
Judge Cobb will issue an order requiring the Federal Reserve to let Cook continue serving. The ruling comes just one week before the Fed’s next policy meeting, scheduled for September 16.

The Trump administration asked the judge to delay her decision to allow an appeal. Cobb denied the request, noting that public interest favors Cook remaining in her position.

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