Just one day after a Federal Reserve Board governor purportedly fired this week by President Donald Trump came to court with a lawsuit , a federal judge quickly acknowledged that there are novel and difficult issues at play, as the administration insisted mortgage fraud allegations against Lisa Cook amount to "cause" under the law for shaking up the U.S. central bank's leadership. Along the way, Cook's high-profile lawyer compared Trump to " Humpty Dumpty ," while also attempting to downplay the criminal referrals his client faces.

U.S. District Judge Jia Cobb, a 2021 Joe Biden appointee, began Friday's lengthy hearing by confirming that the Federal Reserve and its attorney would not argue but were present as observers. Cook, also a Biden appointee who began her 14-year term in 2023, is r

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