Overview

• President Trump filed a notice of appeal in the D.C. Circuit after Judge Jia Cobb granted a preliminary injunction keeping Lisa Cook on the Federal Reserve Board.
• Judge Cobb found Trump’s stated grounds—alleged mortgage‑application misstatements from before Cook took office—likely fall outside the Federal Reserve Act’s “for cause” removal standard and likely violated due process.
• With the injunction in place, Cook remains eligible to participate in the Fed’s Sept. 16–17 policy meeting.
• Separate from the civil case, the Justice Department has opened a criminal mortgage‑fraud inquiry, with reporting of grand jury subpoenas issued in Georgia and Michigan.
• The White House defends the attempted removal as lawful, while the Senate Banking Committee advanced Trump nominee Stephen Miran to a different vacant Fed seat, and analysts note Cook’s removal could enable a board majority if ultimately upheld.