Appeal Court Rejects Trump’s Bid To Unseat Federal Reserve Gov, Cook

An appeals court ruled Monday that Lisa Cook can remain a Federal Reserve governor, rebuffing President Donald Trump’s efforts to remove her just ahead of a key vote on interest rates.

The Trump administration is expected to quickly turn to the Supreme Court in a last-ditch bid to unseat Cook. The Fed’s next twoday meeting to consider its next interest rate move began yesterday morning.

And Cook’s lawsuit seeking to permanently block her firing must still make its way through the courts.

The White House campaign to unseat Cook marks an unprecedented bid to reshape the Fed’s seven-member governing board, which was designed to be largely independent from day-today politics.

No president has fired a sitting Fed governor in the agency’s 112-year history, reports The Associated Press. Separately, Senate Republicans on Monday confirmed Stephen Miran, Trump’s nominee to an open spot on the Fed’s board.

Barring any lastminute intervention from the Supreme Court, the Fed’s interest rate setting committee will meet.