A US federal judge on Tuesday temporarily blocked President Donald Trump’s move to fire Federal Reserve Governor Lisa Cook as she challenges her ouster from the central bank.
Judge Jia Cobb granted Cook’s request for an order to remain on the bank’s board while her lawsuit plays out — just a week before a highly anticipated Fed rate meeting.
In her opinion, judge Cobb found that Cook was “substantially likely” to succeed in certain claims, including her argument that Trump violated the Federal Reserve Act as her removal did not comply with the statute’s “for cause” requirement.
“The public interest in Federal Reserve independence weighs in favor of Cook’s reinstatement,” Cobb added.
Trump did not respond to a question about the ruling asked by a reporter Tuesday night, as he exited a r