President Donald Trump on Wednesday appealed a federal judge’s order that prevented him from firing Federal Reserve Governor Lisa Cook, escalating a legal fight over the president’s power to reshape the central bank.
The appeal, filed in the U.S. Court of Appeals for the District of Columbia Circuit, came a day after U.S. District Judge Jia Cobb issued an injunction allowing Cook to remain on the Fed’s seven-member board while her lawsuit proceeds. The case marks the first challenge to a president’s attempt to remove a Fed governor in the central bank’s 111-year history.
Judge Cobb, a Biden appointee, ruled that Cook was “substantially likely” to prevail on her claim that Trump’s August dismissal violated the Federal Reserve Act, which permits governors to be removed only “for cause.” Th