Overview

• U.S. District Judge Jia Cobb granted a preliminary injunction keeping Lisa Cook on the seven-member board, finding the Federal Reserve Act’s “for cause” standard likely applies only to in-office conduct.
• The court also said Cook is likely to prevail on a due-process claim because she received no notice or hearing before her removal was announced on social media.
• The Justice Department filed a notice of appeal to the D.C. Circuit, and the White House indicated it will keep pursuing the case with potential higher-court review.
• Cook denies wrongdoing as a DOJ mortgage-fraud probe triggered by FHFA Director Bill Pulte’s referrals continues, with grand jury subpoenas reported in Georgia and Michigan.
• Cook remains eligible for the Sept. 16–17 policy meeting, and the Senate Banking Committee advanced Trump nominee Stephen Miran to a separate Fed seat, highlighting stakes for board control.