"The ruling comes a week before the Fed's monetary policy meeting when it is expected to cut interest rates for the first time since December. A United States federal judge has temporarily blocked President Donald Trump from removing Federal Reserve Governor Lisa Cook, an early setback for the White House in an unprecedented legal battle that could upend the central bank's long-held independence."
"The preliminary ruling by US District Judge Jia Cobb in Washington, DC, late on Tuesday found that the Trump administration's claims that Cook committed mortgage fraud before taking office were likely not sufficient grounds for her removal. The decision blocks her firing while the dispute makes its way through the courts. Cobb ruled that Cook would likely prevail in the lawsuit she filed late last month to overturn her firing."
US District Judge Jia Cobb temporarily blocked President Donald Trump from removing Federal Reserve Governor Lisa Cook, finding that allegations of pre-office mortgage fraud likely do not provide sufficient grounds for removal. The injunction prevents Cook's firing while legal challenges proceed, and Cobb indicated Cook would likely prevail in her lawsuit seeking to overturn the termination. Cook denies wrongdoing. The Fed states she remains in her position and declined further comment. The White House defends the removal as lawful for cause and vows to continue pursuing the matter. The case may reach the Supreme Court and affects the Fed's independence to set interest rates.
Read at www.aljazeera.com
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