Overview

• U.S. District Judge Jia M. Cobb is holding a 10 a.m. ET hearing on Lisa Cook’s request for a temporary restraining order that would keep her on the Federal Reserve Board while her lawsuit proceeds.
• FHFA Director Bill Pulte filed a second criminal referral to the Justice Department alleging inconsistent disclosures about a Cambridge, Massachusetts condo, adding to earlier claims involving properties in Michigan and Georgia.
• Cook denies wrongdoing and argues the allegations concern pre‑confirmation paperwork that does not meet the Federal Reserve Act’s "for cause" standard for removal; no criminal charges have been filed.
• President Trump moved to fire Cook this week citing the referrals, while Cook’s suit calls the action a pretext to create a vacancy that could help the White House secure a majority on the seven‑member board.
• Legal analysts expect a rapid appellate path that could reach the Supreme Court, with potential consequences for the Fed’s independence and the scope of presidential removal power over its governors.