finance
Supreme Court Upholds Firings of Fed Officials, Blocks Removal of Governor Lisa Cook
The U.S. Supreme Court ruled 5-4 that President Trump lacks authority to remove Federal Reserve Governor Lisa Cook without cause. The decision sends the case back to lower courts while Cook remains in her position.
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The U.S. Supreme Court ruled 5-4 that President Trump lacks constitutional authority to remove Federal Reserve Governor Lisa Cook without cause. The justices rejected the administration’s request for an immediate dismissal and returned the case to lower courts for further proceedings.
Cook remains in her position as Federal Reserve governor pending those lower-court actions. Federal law requires a showing of cause before a president can remove a sitting Federal Reserve governor. President Trump had cited unproved allegations of mortgage fraud as grounds for the removal.
He posted on social media that the Supreme Court action was strictly procedural. The Supreme Court upheld other Trump administration firings in separate cases while allowing Cook to stay pending further proceedings. Reuters described the ruling as rejecting an unprecedented bid to remove Cook.
No timeline was given for additional lower-court action on the Cook matter.
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Central bank independence affirmedRemoval authority constrained
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Independence uphAuthority limite
CorroborationLimited · 19 sources
