A federal judge on Tuesday blocked President Trump’s firing of Federal Reserve Governor Lisa Cook. The ruling means that Cook will continue to stay on the board of the central bank as her case is heard in court. In her ruling, U.S. District Judge Jia Cobb wrote, “The public interest in Federal Reserve independence weighs in favor of Cook’s reinstatement. That independence is critical in helping the nation’s 'banking system to promote stability.'” Trump has tried to fire Cook, citing allegations of mortgage fraud. Trump has also repeatedly threatened to fire Fed Chair Jerome Powell as he pushes the central bank to cut interest rates more rapidly.
Federal Judge Blocks Trump’s Firing of Federal Reserve Governor Lisa Cook
