Overview

• U.S. District Judge Jia Cobb granted a preliminary injunction that keeps Lisa Cook on the Federal Reserve Board while her lawsuit proceeds.
• The ruling interprets the Federal Reserve Act to permit removal only for cause tied to official duties, finding that pre-appointment allegations do not qualify.
• The court found likely violations of Cook’s procedural rights, concluded she showed irreparable harm, and stressed the public interest in Fed independence.
• The White House is expected to appeal the decision, signaling a continuing legal fight over presidential removal authority.
• The case is described as the first such attempt in the Fed’s 111-year history and has sharpened concerns about efforts to alter the Board’s internal balance.