(Mark Schiefelbein/Alex Brandon/AP photos)
You’re unfired!
Federal Reserve Governor Lisa Cook can remain in her position after a bombshell ruling by a federal judge that followed President Donald Trump’s attempt to fire her.
The ruling by U.S. District Judge Jia Cobb on Tuesday granted Cook’s request for a preliminary injunction to block her ouster while she battles the Trump administration in court, the Associated Press reported.
The “removal of a Federal Reserve Governor extends only to concerns about the Board member’s ability to effectively and faithfully execute their statutory duties, in light of events that have occurred while they are in office,” wrote Cobb, who was appointed by former President Joe Biden in 2021.
It all started late last month, when Trump announced in a Truth Social post that he was firing Cook amid claims by his Federal Housing Finance Agency chief, Bill Pulte, that she had committed mortgage fraud.
Pulte claimed that Cook used an Atlanta condo as her primary home, two weeks after taking a loan on a Michigan home she also declared as
“You are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately,” Trump wrote in a letter that accompanied the post.
Cook responded by filing a lawsuit against Trump, alleging his actions are “unprecedented and illegal.
Under the law, Cook, the first Black woman to serve on the Board of Governors, has not been charged with any crimes, though Pulte has referred his findings to the Department of Justice.