Overview

• U.S. District Judge Jia Cobb held an initial hearing Friday, requested additional briefs by Tuesday, and issued no ruling, leaving Lisa Cook in place for now.
• The Trump administration urged deference to the presidency and argued that criminal referrals and the perception of financial misconduct satisfy the "for cause" standard.
• Cook’s lawsuit calls the allegations unproven and pre-appointment conduct, asserting they are a pretext to alter the Federal Reserve’s board and seeking an emergency order to remain.
• FHFA Director Bill Pulte added a Cambridge property allegation and signaled another referral, though Cook has not been charged with any crime.
• If Cook is removed, Trump could secure a fourth appointment and a potential 4–3 majority on the seven-member board; the Fed took no position and asked for a prompt resolution.