President Donald Trump’s bid to gain greater control of the Federal Reserve has been dealt a blow after the U.S. Supreme Court rejected his push to immediately fire central bank governor Lisa Cook.
The conservative-dominated court ruled on Wednesday that Cook could remain in her job for now, thwarting Trump’s desire to have greater sway over monetary policy by stacking the Fed with loyalists.
The move is likely to infuriate the president, who had tried to fire Cook over unproven claims of mortgage fraud made by MAGA ally Bill Pulte, the head of Federal Housing Finance Agency.
Pulte, who has a history of targeting Trump’s enemies, made similar claims against New York Attorney General Letitia James, the Democratic prosecutor who successfully pursued Trump over civil fraud relating to his