The US Supreme Court has blocked an attempt to dismiss a member of the Board of Governors of the Federal Reserve

The Supreme Court of the United States, by five votes to four, rejected an attempt by US President Donald Trump to dismiss Lisa Cook, a member of the Board of Governors of the Federal Reserve System (FRS). This was reported by The Wall Street Journal on June 29.

It is reported that Cook, who has not been formally charged, has filed a lawsuit against the US president. She said that the American leader allegedly fabricated a reason for her resignation. According to the Federal Reserve Act, the head of state must prove that there is a valid reason to dismiss a member of the Board of governors.

According to the newspaper, the Supreme Court supported the decisions of the courts of two lower instances, which blocked the dismissal procedure for the period of consideration of the claim. Cook will be able to retain his position for months or years while the proceedings are ongoing.

"According to our precedents, Cook had the right to be notified and to have some opportunity to react before resigning," the court said in its decision.

The court stressed that adopting the government's position would allow the president to dismiss the heads of the Federal Reserve at any time and for any reason without notification and subsequent judicial review.

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In August last year, the US Department of Justice called for Cook's resignation as a member of the Fed's board of governors. It is clarified that an official of the Department of Justice, Ed Martin, sent a letter to Fed Chairman Jerome Powell. According to Martin, no American considers it appropriate to continue Cook's work when a cloud is hanging over her. The official added that the issue "requires further study."

On January 30, Trump nominated Kevin Warsh as a candidate for the post of Fed chairman. He noted that Warsh was previously the governor of the Federal Reserve in 2006-2011, becoming the youngest member of the board in history, and also served as special Assistant to the president for economic policy. Later, on May 13, the U.S. Senate confirmed Warsh as chairman of the Federal Reserve. 54 senators voted for his candidacy, while 45 voted against it. On May 22, Warsh took the oath of office and officially assumed the post of the 17th chairman of the Federal Reserve).