Judge Blocks Trump Firing Federal Reserve Governor Lisa Cook

A federal judge has temporarily blocked President Donald Trump's attempt to remove Federal Reserve Governor Lisa Cook, allowing her to remain on the board while she contests her dismissal over allegations of mortgage fraud. The court ruled that "for cause" removal applies only to behavior while in office, and that Cook's right to due process was violated in Trump's firing attempt. Cook has not been charged with any crime, and her lawyers argue that the firing lacked legal cause, citing selective targeting by political appointees. The ruling permits Cook to participate in upcoming Federal Open Market Committee meetings, where key interest rate decisions are expected. This legal decision marks an initial setback for the Trump administration in its effort to reshape the Federal Reserve's leadership and monetary policy approach. The case is expected to proceed through further litigation, potentially reaching the Supreme Court.