Supreme Court Allows Fed Governor Lisa Cook to Stay

The Supreme Court will hear President Trump's appeal to remove Federal Reserve Governor Lisa Cook in January. However, the court ruled Cook can remain on the board until the case concludes, a departure from past rulings on presidential removal power. Trump sought Cook's dismissal over alleged mortgage fraud, which she denies. This marks an unprecedented attempt to remove a Fed governor, as federal law allows removal "for cause" but such actions have not occurred in the central bank's history.

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