A federal Judge on Tuesday ruled that Lisa Cook can remain in her role on the Federal Reserve's Board of Governors while her lawsuit challenging President Trump's attempt to fire her from her post plays out.

"President Trump has not stated a legally permissible cause for Cook's removal," U.S. District Judge Jia Cobb, who was appointed by former President Joe Biden, wrote in her ruling, which is likely to be appealed.

Mr. Trump said he is firing Cook over allegations she made false representations on mortgage agreements several years ago, resulting in more favorable loan terms.

"President Trump's stated cause refers only to allegations regarding Cook's conduct before she began serving on the Federal Reserve Board," Cobb wrote. "As discussed above, such allegations are not a lega

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