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Supreme Court Blocks Trump’s Attempt to Fire Fed Governor Lisa Cook
Supreme Court Blocks Trump’s Attempt to Fire Fed Governor Lisa Cook
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BTCCSquare news:
The U.S. Supreme Court has ruled that Federal Reserve Governor Lisa Cook will remain in her position until oral arguments begin in January 2026, rejecting President Trump's push for her immediate removal over allegations of mortgage fraud. The decision preserves the status quo, with Cook's legal team arguing that granting Trump's request WOULD undermine central bank independence—a cornerstone of U.S. economic strength.
Citadel CEO Ken Griffin warned in a Wall Street Journal op-ed that firing Cook could destabilize markets, erode Fed independence, and trigger inflationary expectations. The ruling follows a lower court's decision that mortgage fraud claims didn't meet the "for cause" threshold required under the Federal Reserve Act.
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