Supreme Court Blocks Trump from Firing Fed Board Member Lisa Cook

The US Supreme Court has blocked President Donald Trump's attempt to fire Federal Reserve Board member Lisa Cook without due process. The decision means Cook, a Democratic appointee with 10 years left on her 14-year term, will retain her position.

Cook is the first Black woman to serve on the central bank's advisory committee. Trump had claimed Cook was guilty of gross negligence and alleged she illegally filed a mortgage application for a second home as a 'primary' residence to secure more favorable loan terms.

The Supreme Court recognized the president's expansive power over executive branch agencies, but drew a line at the Fed, which has a long history of independence from direct White House interference. Federal law allows presidents to remove a Fed governor for cause, but Trump had asserted unchecked power in this case.