Court Rules Lisa Cook Can Remain Fed Governor

WASHINGTON (AP) — A federal court has ruled that embattled Federal Reserve Governor Lisa Cook can remain in her position while she fights President Donald Trump’s efforts to fire her. The ruling late Tuesday, which will almost certainly be appealed, is a blow to the Trump administration’s efforts to assert more control over the traditionally independent Fed. Trump said he was firing Cook on Aug. 25 over allegations that she committed mortgage fraud in 2021, before she joined the Fed. Cook’s lawyers argued that firing her was unlawful because presidents can only fire Fed governors “for cause.” U.S. District Judge Jia Cobb granted Cook’s request for a preliminary injunction blocking her firing while the dispute makes its way through the courts.