DNYUZ
  • Home
  • News
    • U.S.
    • World
    • Politics
    • Opinion
    • Business
    • Crime
    • Education
    • Environment
    • Science
  • Entertainment
    • Culture
    • Music
    • Movie
    • Television
    • Theater
    • Gaming
    • Sports
  • Tech
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Arts
    • Fashion
    • Food
    • Health
    • Travel
No Result
View All Result
DNYUZ
No Result
View All Result
Home News

Supreme Court agrees to hear arguments in case on Federal Reserve independence, leaving Lisa Cook in job for now

October 1, 2025
in News, Politics
Supreme Court agrees to hear arguments in case on Federal Reserve independence, leaving Lisa Cook in job for now
494
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

The Supreme Court agreed Wednesday to decide whether President Donald Trump can temporarily fire Lisa Cook from the Federal Reserve, setting up a blockbuster showdown over the independence of an agency with vast power over the American economy.

Cook will remain on the job until the court holds oral arguments – set for January – and decides what to do with the president’s appeal. That move came despite Trump’s request for Cook to be removed immediately.

In that sense, the order was a win for Cook – and a rare instance in which the court has decided against quickly jettisoning federal officials Trump has fired.

The high court’s brief and unsigned order came months after a majority of justices appeared to draw a line of protection around the Fed, calling the rate-setting agency a “uniquely structured” entity with a “distinct historical tradition” shielding it from presidential politics – even as the court has permitted Trump to fire leaders at other agencies, like the Federal Trade Commission.

Trump fired Cook in late August after a member of his administration alleged that she had committed mortgage fraud by reporting two different homes as her primary residence – a practice that can yield better loan terms. Other documents have subsequently revealed that Cook sometimes declared the second property as a “vacation home.” Cook has called those charges “manufactured” and argued that no court has reviewed them.

“The Court’s decision rightly allows Governor Cook to continue in her role on the Federal Reserve Board, and we look forward to further proceedings consistent with the Court’s order,” Cook’s legal team, which includes Abbe Lowell, said in a statement to CNN.

Meanwhile, White House spokesperson Kush Desai told CNN in a statement: “President Trump lawfully removed Lisa Cook for cause from the Federal Reserve Board of Governors. We look forward to ultimate victory after presenting our oral arguments before the Supreme Court in January.”

If Trump is ultimately successful in dismissing Cook, it would mark the first time a Fed governor was fired by a president in the central bank’s 111-year history.

The Supreme Court’s 6-3 conservative majority has allowed Trump to fire leaders at several agencies that, while they exist within the executive branch, Congress set up to have a degree of independence from the president. Lawmakers attempted to create that independence by requiring a president to show cause – such as malfeasance – before firing its leadership, a practice the Supreme Court upheld in a key 1935 decision.

This year, the court has at least temporarily permitted Trump to fire leaders at several of those agencies without cause – including at the FTC, the Consumer Product Safety Commission, the National Labor Relations Board and others. In one of those decisions, back in May, the court notably said its decision didn’t implicate the Federal Reserve, differentiating it from the lesser-known labor agencies at stake in the case.

But Trump attempted to fire Cook under different circumstances. Rather than dismissing her at will, the president said that the mortgage fraud allegations qualified as cause.

A federal court on September 10 blocked the move, finding that Trump had not “identified anything related to Cook’s conduct or job performance as a board member that would indicate that she is harming the board or the public interest.” A federal appeals court declined to put that order on hold, and Trump quickly filed the emergency appeal at the Supreme Court.

Perhaps sensing that some justices might be uneasy with letting a president meddle with the central bank, Cook argued that siding with Trump would “eviscerate the independence” of the Fed and she warned that it could lead to “chaos and disruption” for US markets.

Trump has been sharply critical of the Fed, especially Chair Jerome Powell, for keeping rates high, and critics say the administration’s real goal in targeting Cook has been to pressure the agency. The Federal Reserve cut its benchmark interest rate earlier this month for the first time since December and signaled more cuts are likely this year. Cook voted in favor of that reduction.

The Supreme Court already agreed this term to hear arguments about the power of a president to fire leaders of independent agencies. That case – centered on Rebecca Kelly Slaughter, who Trump fired from the FTC – has squarely lined up the question of whether the court should overturn its 1935 precedent, Humphrey’s Executor v. US. Humphrey’s, which also dealt with the FTC, allowed Congress to require presidents to show cause before dismissing board members overseeing independent agencies.

This story has been updated with additional details.

CNN’s Elisabeth Buchwald contributed to this report.

The post Supreme Court agrees to hear arguments in case on Federal Reserve independence, leaving Lisa Cook in job for now appeared first on CNN.

Share198Tweet124Share
Arizona AG joins lawsuit to block restrictions on federal funding for violent crime victim support
Crime

Arizona AG joins lawsuit to block restrictions on federal funding for violent crime victim support

by KTAR
October 1, 2025

PHOENIX — Arizona Attorney General Kris Mayes joined a multistate lawsuit challenging the Trump administration’s attempt to restrict funding for ...

Read more
Health

JD Vance Straight Up Lies About Dem Goals Amid Government Shutdown

October 1, 2025
News

Did the FBI SHADOW BAN Charlie Kirk? Censorship EXPOSED

October 1, 2025
News

ICE Agents To Harass Bad Bunny’s Super Bowl Halftime Show, Ex-Top Trump Aide Promises: “We Will Put You In A Detention Facility, & We Will Deport You”

October 1, 2025
News

How Huntington Beach is bucking California’s “sanctuary” policies

October 1, 2025
EU trio in G7 look for US, Japanese backup in using Russian assets

EU trio in G7 look for US, Japanese backup in using Russian assets

October 1, 2025
Federal agents raid Dallas strip club, arrest 41 illegal immigrants in human trafficking investigation

Federal agents raid Dallas strip club, arrest 41 illegal immigrants in human trafficking investigation

October 1, 2025
Video shows terrifying moment masked gunman opens fire on NYC street in reckless, broad daylight shooting

Video shows terrifying moment masked gunman opens fire on NYC street in reckless, broad daylight shooting

October 1, 2025

Copyright © 2025.

No Result
View All Result
  • Home
  • News
    • U.S.
    • World
    • Politics
    • Opinion
    • Business
    • Crime
    • Education
    • Environment
    • Science
  • Entertainment
    • Culture
    • Gaming
    • Music
    • Movie
    • Sports
    • Television
    • Theater
  • Tech
    • Apps
    • Autos
    • Gear
    • Mobile
    • Startup
  • Lifestyle
    • Arts
    • Fashion
    • Food
    • Health
    • Travel

Copyright © 2025.