The US Supreme Court has banned Trump from firing Fed Governor Lisa Cook.
The US Supreme Court refused to allow the American leader Donald Trump to immediately dismiss Lisa Cook, a member of the Board of Governors of the Federal Reserve System (FRS). This was reported on October 1 by the Financial Times.
"This was a decisive victory for the head of the Federal Reserve System and the independence of the central bank of the United States. The court postponed consideration of the US president's statement until the judges hear oral arguments in the case in January 2026," the material says.
The authors of the article clarify that Trump appealed to the Supreme Court after two lower courts ruled to allow Cook to continue working at the Fed.
Earlier, on August 21, Bloomberg reported that the US Department of Justice had called for Cook's resignation. According to the agency, her resignation will give Trump another vacancy on the Fed's board of directors, so he is increasing pressure on the US Central Bank to lower the base rate. It is noted that only the president himself can dismiss the Fed governor and only if there are grounds for this.
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