Supreme Court Blocks Trump's Attempt to Fire Federal Reserve Board Member
The US Supreme Court has blocked President Donald Trump's attempt to fire Federal Reserve Board member Lisa Cook, at least for now. The decision means Cook will retain her position as a Democratic appointee with 10 years left on her 14-year term.
Cook is the first Black woman to serve on the central bank's advisory committee. The court's ruling suggests that it has drawn a line at the Fed, which has a long history of independence from direct White House interference.
Trump had asserted unchecked power, claiming allegations of mortgage fraud against Cook were sufficient basis for her removal. However, Cook insists through her attorneys that relying on 'one stray reference' in a 2021 mortgage document amounts to pretext for a politically motivated effort to manipulate the Fed's policy board.