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Supreme Court Blocks Trump from Removing Fed Governor Lisa Cook

Supreme Court Blocks Trump from Removing Fed Governor Lisa Cook

The U.S. Supreme Court ruled Monday that Federal Reserve Governor Lisa Cook may remain on the Federal Reserve Board of Governors while litigation over President Donald Trump’s attempt to remove her from office continues.

In a 5-4 decision, the justices denied the administration’s request to immediately oust Cook from the Board following allegations of mortgage fraud. The ruling leaves in place a lower court order that blocked her dismissal until the underlying case is resolved.

Trump had sought emergency relief from the Supreme Court last September after lower courts prevented Cook’s removal. At the time, the justices allowed Cook to remain in her position while considering whether to suspend the lower court’s ruling.

Chief Justice John Roberts authored the majority opinion, joined by Justices Sonia Sotomayor, Elena Kagan, Brett Kavanaugh and Ketanji Brown Jackson.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.