Appeals Court Turns Down Trump’s Move to Remove Lisa Cook
(MENAFN) A federal appeals court in the United States on Monday turned down President Donald Trump’s urgent request to swiftly remove Federal Reserve governor Lisa Cook, according to local media coverage.
In a 2-1 decision from the U.S. Court of Appeals for the District of Columbia Circuit, the judges stated that it was premature to evaluate whether the accusations against Cook meet the "for cause" requirement necessary to dismiss a Fed governor.
This ruling leaves the Trump administration with only hours to escalate the case to the Supreme Court, as the Federal Reserve’s pivotal interest-rate meeting is set to begin Tuesday morning. Without a Supreme Court ruling, Cook will retain the right to participate and vote during the Federal Open Market Committee sessions on Tuesday and Wednesday.
Earlier, on September 9, a federal judge blocked Trump's attempt to remove Cook, ordering her immediate reinstatement.
In related developments, the U.S. Senate on Monday narrowly approved Stephen Miran, one of Trump’s senior economic advisors, to join the Federal Reserve’s governing board with a 48-47 vote. Miran will fill the vacancy left by Adriana Kugler, who stepped down in early August. He is expected to serve out the remainder of Kugler’s term, ending in January.
Reports also indicate that Miran intends to continue as chair of the White House Council of Economic Advisers while taking unpaid leave from that role.
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