The US Supreme Court ruled that Federal Reserve Gov. Lisa Cook can remain in her position until it reviews the case over whether President Trump has the authority to remove her based on accusations of mortgage fraud.
The court will hear the arguments in this case in January, and its ruling will remain in place until there is a final ruling. The Trump administration claimed it could fire her for cause, even though she has not been charged with any criminal action.
With this decision, Cook will remain for the last two Fed meetings on rates policy for this year. The court’s action is the third time that the judicial system ruled against Trump’s aggressive actions to force her from office.
Neither Trump nor Bill Pulte, the Federal Housing Finance Agency director who raised the mortgage fraud accusations based on loan paperwork from before Cook’s term on the Fed’s board of governors, commented on the court’s ruling.
