Supreme Court rules Trump cannot fire Fed Governor Lisa Cook for now
The ruling by the Supreme Court means that Lisa Cook will remain as a Federal Reserve governor as her lawsuit challenging Trump's effort to fire her proceeds.
TL;DR
- The Supreme Court ruled that President Trump does not currently have the authority to fire Federal Reserve Governor Lisa Cook.
- The 5-4 decision allows Cook's lawsuit challenging her dismissal to continue.
- Chief Justice John Roberts wrote the majority opinion, emphasizing the Federal Reserve's designed independence from the president.
- The ruling stated that any future attempt to remove Cook would require due process, including notice of evidence and an opportunity to respond.
- Trump vowed to take further action against Cook, claiming the ruling was purely procedural.
- Justices Alito and Thomas dissented, with Thomas arguing the majority made policy arguments against the Constitution.
- Cook, the first Black woman to serve as a Fed governor, denied allegations of mortgage fraud and stated her removal attempt was due to her refusal to bow to political pressure for interest rate cuts.
- The ruling came the same day the Supreme Court expanded presidential powers in a different case concerning the firing of an FTC commissioner.