Appeals court says Lisa Cook can remain Fed governor for now, rejecting Trump bid to remove her

Latest details on recent Trump leadership changes

Latest details on Trump’s recent leadership changes

03:28

Washington — A federal appeals court on Monday rejected a bid from President Trump’s administration to allow the president to fire Lisa Cook from the Federal Reserve Board of Governors, leaving intact a lower court order that reinstated her to the post.

The U.S. Court of Appeals for the D.C. Circuit divided 2-1 in declining to grant the Trump administration emergency relief and clear the way for Mr. Trump to remove Cook from her position. The decision all but ensures Cook will remain a governor on the seven-member Fed board through a two-day meeting of its interest rate-setting committee, which Cook sits on and is set to begin Tuesday.

Mr. Trump moved to oust Cook from the Fed’s Board of Governors last month over allegations of mortgage fraud. Cook denies any wrongdoing. 

This is a developing story and will be updated

Melissa Quinn is a politics reporter for CBSNews.com. She has written for outlets including the Washington Examiner, Daily Signal and Alexandria Times. Melissa covers U.S. politics, with a focus on the Supreme Court and federal courts.

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