President Donald Trump is asking the U.S. Supreme Court to allow him to fire Federal Reserve Governor Lisa Cook, following lower-court rulings that blocked his efforts.
Here are the confirmed facts:
- The administration alleges Cook committed mortgage fraud prior to her appointment in 2022—specifically, that she misrepresented her primary residence on loan documents.
- Cook denies wrongdoing and claims the removal is politically driven, citing her Fed voting record and policies she supported.
- A federal court temporarily blocked her dismissal, ruling that the alleged conduct took place before she assumed office and does not meet the legal standard of “for cause” required under the Federal Reserve Act for removal of a governor.
- Trump’s request to the Supreme Court seeks an emergency order to proceed with Cook’s firing while the case continues through the courts.
This request would be a landmark move: no Fed governor has ever been removed under such circumstances. The outcome could reshape the boundaries of presidential authority over the central bank.