Overview

• In a brief unsigned order, the Supreme Court declined emergency relief and scheduled arguments for January 2026 on President Trump's bid to remove Federal Reserve Governor Lisa Cook.
• A U.S. district judge previously issued a preliminary injunction finding likely violations of the Federal Reserve Act’s for-cause standard and due-process requirements, and a divided D.C. Circuit panel left that ruling in place.
• The administration cites alleged 2021 mortgage misrepresentations as cause for removal, while Cook denies wrongdoing, has not been charged, and documents reported by the Associated Press appear to undercut the fraud claim.
• Former Fed chairs, former Treasury officials and hundreds of economists warned that removing a sitting governor would threaten central-bank independence and unsettle monetary policy.
• Cook will continue to participate in policy meetings, including Oct. 28–29 and Dec. 9–10, as the court also prepares to hear a separate December case on presidential removal powers at independent agencies.