Lisa Cook, a Federal Reserve member, is suing President Trump for attempting to fire her. Trump cited alleged irregularities in Cook's mortgage filings as the reason. A Justice Department lawyer argued against a temporary restraining order, emphasizing presidential authority. Cook's lawsuit claims Trump's action lacks sufficient legal grounds for removal and that his stated reasons are pretextual, aiming to influence the Fed's interest rate policy. The judge is considering the request for a temporary restraining order to maintain Cook's position while the case proceeds.

Prepared by Lauren Mitchell and reviewed by editorial team.