Supreme Court rejects Trump bid to fire Fed's Lisa Cook as legal case continues

Washington — The Supreme Court on Monday allowed Lisa Cook to continue in her post as a member of the Federal Reserve Board of Governors while legal proceedings over President Trump's attempt to fire her continue. In a 5 to 4 decision , the high court rejected the president's bid to allow him to oust Cook from her role as Fed governor following allegations of mortgage fraud. Mr. Trump first came to the Supreme Court for emergency relief last September, and the justices had let Cook remain in her job at the central bank while they considered whether to freeze a lower court decision that blocked her firing. The Supreme Court has now left that lower court decision intact while Cook's legal challenge to her removal proceeds. Chief Justice John Roberts wrote the opinion for the majority, joined by Justices Sonia Sotomayor, Elena Kagan, Brett Kavanaugh and Ketanji Brown Jackson. Mr. Trump moved to fire Cook from the Fed Board last August, a move that was without precedent across the central bank's 112-year history. It came amid similar efforts to fire officials appointed by Democrats at a slew of multi-member independent agencies, and as Mr. Trump frequently voiced frustrations with the Fed's interest rate decisions. The president claimed Cook made misrepresentations on mortgage filings related to two properties, one in Michigan and another in Georgia, before she was nominated to the Fed by President Joe Biden in 2021. …