A federal appeals court Monday denied a last-minute attempt by President Donald Trump to fire Lisa Cook, a Federal Reserve governor, and prevent her from participating in a crucial two-day Fed meeting to set interest rates.
As a result, Cook will be able to cast a vote at the gathering, which begins Tuesday.
The ruling marked the second legal defeat for Trump in his quest to oust Cook, whom he has accused of engaging in mortgage fraud. Cook has not been charged with a crime.
Trump has moved to stack the central bank with a roster of political loyalists, and separately Monday, he secured confirmation of one of his top advisers to another open slot on the Fed’s board of governors.
The decision from the U.S. Court of Appeals for the District of Columbia Circuit upheld the work of a lower