Supreme Court blocks Trump's attempt to fire Federal Reserve governor Lisa Cook
The US Supreme Court blocked President Trump's attempt to fire Federal Reserve Governor Lisa Cook, ruling that the administration failed to provide sufficient due process. The court sent the case back to lower courts to address allegations of mortgage fraud against Cook.
Why it matters
This ruling reinforces the legal protections intended to maintain the Federal Reserve's independence from direct presidential control.
Image source, Getty Images By Natalie Sherman Business reporter Published 29 June 2026, 15:28 BST Updated 12 minutes ago The US Supreme Court has blocked President Donald Trump's attempt to fire a governor of the US central bank, in a ruling seen as affirming the Federal Reserve's independence.
The report balances the administration's claims of negligence with the legal arguments regarding institutional independence.
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