Overview

• U.S. District Judge Jia Cobb scheduled a 10 a.m. EDT hearing on Lisa Cook’s request for a temporary restraining order that would keep her on the Federal Reserve Board while her lawsuit proceeds.
• Cook’s suit argues the Federal Reserve Act’s “for cause” standard covers only in‑office misconduct, insists she is entitled to due process, and denies the unproven mortgage‑fraud allegations.
• The White House cites referrals from FHFA Director Bill Pulte, who filed a second complaint alleging Cook labeled a Cambridge, Massachusetts, condo as a second home on a mortgage and later as a rental in ethics filings, with separate claims tied to Atlanta and Ann Arbor properties.
• No president has previously removed a Fed governor, the statute has never been tested, and legal analysts expect the dispute could reach the Supreme Court, which recently described the Fed as distinct from other agencies.
• If Trump ultimately replaces Cook, he could move toward a 4–3 majority on the seven‑member board and potentially influence monetary policy, though no criminal charges have been filed and markets largely anticipate a prolonged fight.