Supreme Court Blocks Trump From Firing Fed Governor Lisa Cook, Citing Procedural Protections
- In a narrow 5-4 ruling on June 29, the Supreme Court said President Trump failed to give Cook notice and a chance to contest the mortgage-fraud allegations, allowing her to remain at the Fed while litigation continues (BBC, NYT).
- The decision preserves Fed independence for now but is not a final ruling on removal, leaving open a longer legal fight over presidential authority over governors.
- Trump immediately renewed his threat to fire Cook; markets read the ruling as reducing near-term political pressure on a Warsh-led Fed already tilting hawkish (NYT).