Federal Reserve Governor Lisa Cook can remain on the central bank’s board at least through January after the Supreme Court deferred oral arguments in her dispute with the Trump administration.
The high court will hear the case in January and decide Cook’s fate afterward.
President Donald Trump moved to fire Cook in August, accusing her of mortgage fraud, claiming she listed two properties as her primary residence. Cook has not been charged with any crime and said at the time she would not be “bullied” into resigning.
After Trump’s attempted ouster, both a district court and an appeals court declined to remove Cook immediately.
The Supreme Court will now determine whether Trump was justified in seeking her removal.
Cook’s case comes as Trump has kept heavy pressure on the independent Federal Reserve and Chair Jerome Powell to lower interest rates. Last month, Powell, Cook and other board members voted to cut rates by a quarter percentage point — the first interest rate decrease of 2025.
