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Federal Court Blocks Trump’s Attempt to Dismiss Fed Governor Lisa Cook, Highlighting Central Bank Independence
Federal Court Blocks Trump’s Attempt to Dismiss Fed Governor Lisa Cook, Highlighting Central Bank Independence
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BTCCSquare news:
A federal court has suspended former President Donald Trump's dismissal of Federal Reserve Governor Lisa Cook, marking an unprecedented judicial intervention in the 111-year history of the U.S. central bank. Judge Jia Cobb ruled the termination lacked 'valid cause' as required by Federal Reserve law, reinforcing the institution's insulation from political pressures.
The decision comes ahead of a critical Fed policy meeting, reigniting debates about executive branch overreach in monetary policy. Cook, a Biden appointee targeted for alleged pre-appointment conduct, now remains at her post as markets watch for implications on interest rate decisions.
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