Federal Judge Stops Trump's Move to Dismiss Federal Reserve Governor Lisa Cook

A federal judge has intervened in President Donald Trump's effort to dismiss Federal Reserve Governor Lisa Cook, according to CNN. On September 9, Judge Jia Cobb, appointed by Biden, approved Cook’s plea for a preliminary injunction, enabling her to retain her position while litigation unfolds regarding Trump’s dismissal bid. "President Trump has not presented any evidence concerning Cook’s conduct or performance that suggests she is detrimental to the Board or public interest," Cobb stated in her ruling. This decision follows Trump’s declaration to have terminated Cook, a historic move against a sitting Fed governor. Trump's administration plans to contest Cobb's ruling. Cook contends that the dismissal attempt threatens the autonomy of the Federal Reserve, emphasizing that alleged mortgage fraud underpinning Trump’s argument is under investigation. Cobb affirmed that valid grounds for removing a Federal Reserve Governor must pertain to their capacity to fulfill statutory obligations effectively. The ongoing legal conflict highlights tensions between political motives and institutional independence.