A federal judge issued a preliminary injunction blocking President Trump from firing Federal Reserve Governor Lisa Cook. Cook sued Trump, arguing her dismissal, based on pre-Fed allegations of mortgage fraud, violated the Federal Reserve Act's 'for cause' provision. The judge ruled that 'for cause' refers to conduct in office, not prior actions. Cook, the first Black woman on the Fed board, denies wrongdoing and will remain in her position.

Prepared by Lauren Mitchell and reviewed by editorial team.