US Supreme Court Blocks Trump’s Bid to Remove Fed Governor, Expands Power Over Other Agencies
The US Supreme Court ruled 5-4 to block President Donald Trump's attempt to immediately remove Federal Reserve Governor Lisa Cook, citing procedural protections and the Fed's independence. While the court expanded presidential power to fire heads of other independent agencies without cause, it upheld the Federal Reserve Act's 'for cause' removal standard for Fed governors. Cook, appointed by Joe Biden, denies mortgage fraud allegations cited by Trump, who critics say used them as a pretext amid policy disagreements. The legal dispute continues in lower courts.