WASHINGTON (AP) — A federal court has ruled that embattled Federal Reserve Governor Lisa Cook can remain in her position while she fights President Donald Trump’s efforts to fire her. The ruling, which will almost certainly be appealed, is a blow to the Trump administration’s efforts to assert more control over the traditionally independent Fed. Congress has also sought to insulate the Fed from day-to-day politics. Trump said he was firing Cook on Aug. 25 over allegations that she committed mortgage fraud related to two properties she purchased in 2021, before she joined the Fed. Cook’s lawyers argued that firing her was unlawful because presidents can only fire Fed governors “for cause.”
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