Judge blocks Trump's attempt to fire Federal Reserve Governor Lisa Cook
A federal judge has blocked President Donald Trump's attempt to fire Federal Reserve Governor Lisa Cook.
"At this preliminary stage, the Court finds that Cook has made a strong showing that her purported removal was done in violation of the Federal Reserve Act's 'for cause' provision," U.S. District Judge Jia Cobb wrote in a ruling Tuesday evening granting a preliminary injunction.

Cobb will enter an order requiring the Federal Reserve to let Cook continue serving in her role.
The decision comes one week ahead of the Federal Reserve's next meeting, which is scheduled to begin on Sept. 16.
While the Trump administration asked the judge to delay her decision to allow an appeal, she denied their request in part because she said the public interest favors Cook staying in her role.
"Cook is one of seven members of a Board that is, by design, not intended to be susceptible to policy pressure, let alone tasked with implementing the President's agenda," Cobb wrote.
The judge concluded that Trump's attempted firing of Cook likely violated the Federal Reserve Act, which limits the basis for firing a governor to their behavior in office, and ran afoul of Cook's due process rights.
The judge said Cook demonstrated that her removal would cause irreparable harm, writing that the independence of the Federal Reserve is "critical in helping the nation's 'banking system to promote stability.'"
Cobb also criticized the Trump administration for advancing what she called an "absurd" argument about the scope of the president's power, which they argued allowed Trump to not only remove Cook but also barred a court from reviewing his action.
Cook's attorney, Abbe Lowell, applauded the judge’s ruling, saying it "recognizes and reaffirms the importance of safeguarding the independence of the Federal Reserve from illegal political interference."
The statement added that Cook will "continue to carry out her sworn duties as a Senate-confirmed Board Governor.”
-ABC News' Katherine Faulders, Alex Mallin, Peter Charalambous and Olivia Rubin






