A U.S. federal judge has temporarily blocked President Donald Trump from removing Federal Reserve governor Lisa Cook, marking the first time a sitting president has attempted to oust a member of the Fed board.
Judge Jia Cobb ruled that President Trump had not provided evidence that Cook’s conduct or performance in office was harmful, stressing that the law only allows removal “for cause” related to a governor’s duties.
The decision ensures Cook, the first Black woman on the Fed board, will remain in her post as her lawsuit continues, just days before the central bank meets to consider its first rate cut in nearly a year.
The White House has accused Cook of misrepresenting multiple properties on mortgage applications, but her lawyers argue the move is politically motivated and threatens the Fed’s independence. Abbe David Lowell, Cook’s attorney, welcomed the ruling as vital to protecting the central bank from unlawful interference.