President Donald Trump has asked the U.S. Supreme Court to grant an emergency order allowing the removal of Federal Reserve Governor Lisa Cook. The request follows a lower court ruling that blocked her firing, citing legal protections under the Federal Reserve Act.
- Cook was appointed by President Biden and confirmed in 2022.
- The Trump administration alleges she committed mortgage-fraud before her Fed service, with claims involving conflicting claims about her primary residence.
- A federal judge temporarily blocked Cook’s dismissal, saying alleged misconduct that predates her appointment does not qualify under the “for cause” provision required for removal.
- Cook has sued, arguing that the removal attempt is politically motivated and unlawfully denies her due process.
- The Supreme Court is being asked to allow the removal while litigation continues.
This move is unprecedented in modern Federal Reserve history and raises significant questions about presidential power over independent financial institutions.