President Donald Trump has sought to oust Federal Reserve Governor Lisa Cook. Drew Angerer/Getty Images
President Donald Trump cannot remove Lisa Cook from the Federal Reserve’s Board of Governors for now, a federal appeals court said in an emergency ruling Monday, hours before the central bank’s two-day monetary policy meeting kicks off.
The ruling marks another defeat for the White House’s efforts to control the Fed and economic policy.
The court’s decision comes just weeks after Trump said he fired Cook. If Trump is ultimately successful, it would mark the first time a Fed governor was fired by a president in the central bank’s 111-year history.
At the same time the court ruled Trump couldn’t immediately fire Cook, Stephen Miran , Trump’s nominee to fill a seperate seat on Fed’s