Trump Appeals Fed Governor Removal Case Ahead of Rate Decision

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President Donald Trump has filed an appeal against the injunction that blocked his removal of Federal Reserve Governor Lisa Cook, just days before the central bank’s next interest rate decision.

The administration argues that firing Cook “for cause” falls under presidential discretion and is not subject to judicial review. Trump alleged Cook engaged in “deceitful and potentially criminal conduct” tied to mortgage documents, but Cook maintains the move exceeded presidential authority and violated her rights.

Why it matters:
The clash raises serious questions over the Fed’s independence at a time when markets are preparing for the Fed’s first rate cut since 2024.