finance
Supreme Court Returns Lisa Cook Case to Lower Courts on Procedural Grounds
The U.S. Supreme Court sent the Federal Reserve governor's removal challenge back to lower courts without ruling on the merits. President Trump had sought to remove Lisa Cook citing mortgage fraud allegations under federal law that limits removals to cases of cause.
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The U.S. Supreme Court returned the case over Federal Reserve Governor Lisa Cook's position to lower courts on procedural grounds without addressing the underlying claims about her suitability. The Court did not rule on whether Cook should remain in her role.
Dispute President Trump posted on social media that the Cook lawsuit was sent back by the Supreme Court on a strictly procedural basis. Federal law states that a president may remove Federal Reserve governors only for cause. President Trump cited allegations of mortgage fraud as the basis for seeking to remove Lisa Cook.
Bloomberg reported that the Supreme Court decision allows Lisa Cook to remain in her Federal Reserve position for now. Reuters described the Supreme Court ruling as rejecting an "unprecedented bid" to remove Lisa Cook. The Associated Press noted the Supreme Court upheld other Trump administration firings in separate cases while allowing Lisa Cook to stay pending further proceedings.
No timeline for additional lower-court action on the Cook case was specified in the available statements.
