Supreme Court Denies Trump's Application to Remove Federal Reserve Governor Lisa Cook

The U.S. Supreme Court, in a 5-4 ruling, denied President Trump's emergency application to immediately fire Federal Reserve Governor Lisa Cook. Trump had sought to remove Cook—the first such attempt since the Fed's creation in 1913—alleging mortgage fraud and false statements, which she denies. The ruling emphasized that the denial was on procedural grounds for the emergency application, not a final merits decision, and underscored the central bank's independence, affirming that Fed governors can only be removed 'for cause.' Cook remains on the board while the legal challenge proceeds.

"Trump officials made unproved allegations of mortgage fraud against Cook, claiming she made false statements and that the president lacked confidence in her integrity."