Overview

• In a short order, the Court rejected the administration’s bid to lift lower-court blocks, keeping Cook in her post pending review.
• Oral arguments are scheduled for January after both a district court and the D.C. Circuit declined to allow her immediate dismissal under likely “for cause” limits.
• The White House cites alleged pre-appointment mortgage misstatements as grounds for removal, allegations Cook denies and says predate her Fed service.
• Prominent economists and former Fed chairs warn the effort could undermine the central bank’s independence and unsettle financial markets.
• This is the first known attempt by a U.S. president to remove a Fed Board member, setting up a broader test of executive authority over independent agencies.