Overview

• U.S. District Judge Jia M. Cobb granted a preliminary injunction that keeps Cook on the Federal Reserve Board while the case proceeds.
• The court said alleged conduct before Cook took office cannot by itself justify dismissal and pointed to the public interest in central‑bank independence.
• President Trump announced in August that he would oust Cook immediately, alleging false statements in one or more mortgage documents.
• Cook denied the allegations and argued the Federal Reserve Act does not allow the president to fire a governor under these circumstances.
• Legal observers expect an appeal, and the dispute could ultimately be decided by the U.S. Supreme Court.