Supreme Court Delays Lisa Cook Fed Removal Until January

The U.S. Supreme Court has declined to immediately remove Federal Reserve Governor Lisa Cook, leaving her in place until it hears full arguments in January regarding President Donald Trump's attempt to oust her. Trump, the first U.S. president in over a century to try to fire a sitting Fed governor, has accused Cook of mortgage fraud, claiming she misrepresented her primary residences to obtain favorable borrowing terms. However, federal courts have blocked his efforts, ruling that the Federal Reserve Act requires "for cause" removal, a standard not met by Trump's allegations. Cook and her legal team argue that allowing her removal now would harm the Fed's independence and economic stability. The administration insists it lawfully removed Cook and anticipates a favorable outcome after the Supreme Court hearing. The case underscores tensions over Fed autonomy amid political disputes and ongoing government shutdown impacts on economic data.