A federal appeals court ruled on Monday that Federal Reserve Governor Lisa Cook can remain in her position, dealing a significant blow to President Donald Trump 's unprecedented attempt to remove a sitting official from the U.S. central bank.

Newsweek contacted the White House to seek comment via email after office hours.

Why It Matters

Trump's bid to fire Cook represents an unheard-of bid to reshape the Fed's seven-member governing board, which was designed to be independent of politics, and comes as Trump presses the Fed to lower interest rates.

The president announced on August 25 that he was firing Cook, "in light of your deceitful and potentially criminal conduct in a financial matter," adding that he no longer had "confidence in your integrity." He cited allegations of mortg

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