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yesterday

Appeals Court Blocks Trump From Removing Fed Governor Lisa Cook Before Rate Meeting

The panel cited a lack of due process in the attempted ouster, leaving the statute’s undefined “for cause” standard for another day.

Lisa Cook in Washington, D.C., on June 25, 2025.
FILE - Federal Reserve Board of Governors member Lisa Cook listens during an open meeting of the Board of Governors at the Federal Reserve, June 25, 2025, in Washington.
White House Council of Economic Advisers Chairman Stephen Miran sits during his confirmation hearing before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington, D.C., U.S., February 27, 2025. REUTERS/Annabelle Gordon/File Photo
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Overview

  • A 2–1 D.C. Circuit panel refused to stay a lower-court injunction, allowing Cook to participate in the Sept. 16–17 Federal Reserve policy meeting.
  • The majority said the administration gave Cook no notice or meaningful opportunity to respond before the purported firing, violating due-process requirements.
  • The decision preserves the status quo without deciding what qualifies as “for cause” under the 1913 Federal Reserve Act, which a district judge said likely excludes pre‑office conduct.
  • The White House is expected to seek emergency Supreme Court review as DOJ’s mortgage‑fraud probe proceeds with grand‑jury subpoenas in Georgia and Michigan; Cook denies wrongdoing, has not been charged, and documents reviewed by reporters undercut parts of the allegations.
  • Separately, the Senate confirmed Stephen Miran to an open Fed seat, adding a Trump appointee to the board while the legal fight over Cook continues.