US Supreme Court blocks Trump from immediately firing Fed governor Lisa Cook
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Dr Lisa Cook will remain in her post until the US Supreme Court hears oral arguments in January, regarding the US President's attempts to fire her.
PHOTO: REUTERS
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- The Supreme Court blocked Donald Trump from immediately firing Federal Reserve Governor Lisa Cook, pending oral arguments in January 2026.
- Trump tried to fire Cook, alleging false statements on mortgage agreements; Cook is challenging her firing, claiming a lack of due process.
- Trump's attempts to influence the independent Fed and fire Cook have drawn criticism and unnerved investors, with economists expressing support for Cook.
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WASHINGTON - The US Supreme Court on Oct 1 barred Donald Trump from immediately firing Federal Reserve governor Lisa Cook, as the president mounts multiple challenges that have tested the independence of the central bank.
In an order, the court said it had deferred the request “pending oral argument in January 2026,” ensuring that the Fed governor will remain in her post until the case is heard.
Over the summer, Mr Trump attempted to fire Dr Cook, who serves on the Fed’s powerful seven-person governing board, claiming that she had falsified statements
Dr Cook has filed a lawsuit
Mr Trump has been a fierce critic of the Fed’s decision to keep interest rates elevated as it battles against inflation, which remains stuck stubbornly above its long-term target of 2 per cent.
As a Fed governor, Dr Cook, who is the first black woman to serve
The Supreme Court’s decision to delay the trial until January marks a rare instance of pushback by the conservative-dominated court, which has been deferential to the current administration.
Mr Trumps’ attempts to fire a member of the independent central bank has unnerved investors, and drawn criticism from close to 600 economists, who recently penned a letter expressing their support for both Cook and central bank autonomy.
Asked to comment, a Federal Reserve spokesperson referred AFP to a statement from August in which it said it would “abide by any court decision.” AFP
