The US Supreme Court on Wednesday (October 1) refused to allow President Donald Trump to immediately remove Federal Reserve Governor Lisa Cook, delivering a setback. A brief unsigned order confirmed Cook can stay in her position until arguments in the case are heard in January.

Trump’s campaign to unseat Cook marks an attempt to reshape the Fed board, which has historically been independent from politics. No president has ever fired a sitting Fed governor in the institution’s 112-year history.

Legal battle over firing authority

The court will also examine whether federal judges can block firings or merely award back pay to officials wrongly dismissed. A federal judge ruled that Trump’s firing of Cook would be illegal because Fed governors can only be removed “for cause” — misconduct w

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