A federal appeals court upheld Lisa Cook's position as a Federal Reserve governor, rejecting President Trump's attempt to remove her before a key interest rate vote. The Trump administration plans to appeal to the Supreme Court. The attempted removal is unprecedented, raising concerns about the Fed's independence. Cook's alleged mortgage fraud, the basis for the firing attempt, is disputed, with documents suggesting she correctly identified her Atlanta condo as a vacation home. The case highlights concerns that political interference could lead to artificially low interest rates, fueling inflation.

Prepared by Lauren Mitchell and reviewed by editorial team.