Overview

• Cook filed in D.C. federal court seeking a temporary restraining order and injunction, arguing Fed governors can be removed only for legally defined cause.
• U.S. District Judge Jia Cobb scheduled an expedited hearing for Friday morning after the filing by Cook’s attorney, Abbe Lowell.
• The complaint challenges mortgage-fraud allegations raised by FHFA Director Bill Pulte over 2021 loan applications, and reporters note no charges or DOJ probe have been announced.
• The lawsuit names President Trump, Fed Chair Jerome Powell, and the Board of Governors as defendants, while the Fed says it will abide by court rulings and stresses protections for governor tenure.
• The White House contends there is just cause and says removal would enhance accountability, and analysts warn Cook’s ouster could shift the board’s balance and influence rate policy.