Supreme Court Upholds Fed's Lisa Cook Amid Trump Legal Battle

WHO:

Fox News - Lisa Cook, Federal Reserve Governor, appointed by President Joe Biden.

Fox News - President Donald Trump, involved in a legal battle regarding Cook's position.

Fox News - Barry Eichengreen, American economist who described Cook's expertise.

WHAT:

ABC News - The Supreme Court blocked President Trump's attempt to fire Lisa Cook from the Federal Reserve Board of Governors.

CBS News - The Supreme Court allowed Lisa Cook to continue in her position while legal proceedings regarding Trump's attempt to fire her are ongoing.

Fox News - Trump alleged that Cook misrepresented information related to mortgages she obtained before joining the Federal Reserve.

Fox News - Cook denied any wrongdoing and has not been charged with a crime.

Fox News - A district court judge barred Trump from firing Cook while the case proceeds, a decision upheld by a federal appeals court.

WHERE:

Fox News - The legal case is taking place in federal court in Washington, D.C.

Fox News - Cook is a member of the Board of Governors of the Federal Reserve System.

WHEN:

Fox News - Cook joined the Federal Reserve Board of Governors in May 2022.

Fox News - Cook was reappointed in September 2023 for a term that runs through January 2038.

Fox News - Trump announced his intention to fire Cook in late August.

WHY:

Fox News - Trump's motivation for attempting to fire Cook was based on allegations of misrepresentation regarding her mortgages.

HOW:

Fox News - Cook filed a lawsuit against Trump to block her removal from the Federal Reserve.

(UPDATED June 29, 2026 16:18 UTC)

The Supreme Court has blocked Trump’s attempt to fire Lisa Cook from her position on the Federal Reserve Board of Governors, allowing her to continue serving while legal proceedings are underway. Trump has alleged that Cook misrepresented information related to mortgages she obtained before joining the Federal Reserve, but she has denied any wrongdoing and has not been charged with a crime. The legal case is currently taking place in federal court in Washington, D.C., where a district court judge has barred Trump from firing Cook while the case proceeds.