President Donald Trump’s administration asked the U.S. Supreme Court to allow moving forward with firing Federal Reserve Governor Lisa Cook, a move unprecedented since the Federal Reserve’s 1913 founding.

The request follows U.S. District Judge Jia Cobb’s September 9 order temporarily blocking Trump from removing Cook, who was appointed by President Joe Biden.

Driving the news: Judge Cobb ruled that Trump’s allegations of mortgage fraud made against Cook, which she denies, likely do not satisfy the “for cause” standard required by the Federal Reserve Act for removal. • The Justice Department described the judicial block as improper interference with the president’s removal authority over Fed governors. • Lisa Cook participated in the Fed’s recent two-day meeting where the Fed cut int

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