The Justice Department appealed a judge’s decision that temporarily blocks President Donald Trump from ousting Federal Reserve Governor Lisa Cook over allegations of mortgage fraud, keeping the case on track to end up at the Supreme Court.
The government on Wednesday filed a notice that it’s asking the federal appeals court in Washington to overturn the ruling. The Tuesday decision by U.S. District Judge Jia Cobb held that Trump likely did not have “cause” under the Federal Reserve Act to fire Cook. It’s unclear how quickly the appeals court panel will be able to rule.
At stake is the makeup of the Fed board during a highly anticipated Sept. 16-17 meeting to vote on whether to lower interest rate, as well as the central bank's independence . Cook can attend the meeting as long as Cobb’