A three-judge appellate panel ruled in favor of Federal Reserve Governor Lisa Cook on Monday, allowing her to continue to
A three-judge appellate panel ruled in favor of Federal Reserve Governor Lisa Cook on Monday, allowing her to continue to serve as her legal battle with President Donald Trump continues.
Trump last week asked a federal appeals court to temporarily block a lower court’s Sept. 9 injunction preventing him from firing Cook while her lawsuit challenging her dismissal proceeds. The president moved to fire Cook in August after Federal Housing Finance Agency Director Bill Pulte accused her of committing mortgage fraud, prompting a Department of Justice investigation.
The ruling comes just a day before the Federal Reserve’s two-day meeting, where the interest-rate setting committee, on which Cook serves, is widely expected to trim rates by a quarter point. Trump, however, has continued to press for more significant cuts.
In a concurring opinion, Judge Bradley Garcia, joined by Judge Michelle Childs, wrote that Cook is likely to prevail in her claim that Trump’s attempt to remove her infringed on her due process rights.
