Supreme Court Lets Fed’s Lisa Cook Stay in Job for Now
Bloomberg 2026-06-29 14:21:02
Context: The US Supreme Court has allowed Federal Reserve Governor Lisa Cook to remain in her position for now, in a decision that has significant implications for the central bank's independence from the White House. The case was brought after President Donald Trump attempted to immediately fire Cook, a move that was contested by the Federal Reserve. The Supreme Court's decision enables Cook to continue serving in her role.
Key Facts
- The US Supreme Court refused to let President Donald Trump immediately fire Federal Reserve Governor Lisa Cook, effectively allowing her to stay in her job for now.
- The case tested the central bank's independence from the White House, with the outcome having significant implications for the Federal Reserve's autonomy.
- President Donald Trump had attempted to fire Cook, but the Supreme Court's decision enables her to continue serving in her role as Federal Reserve Governor.
- The Supreme Court's decision does not necessarily settle the issue of the President's authority to remove Federal Reserve Governors, and may have further implications for the balance of power between the White House and the central bank.
- Lisa Cook's continued tenure as Federal Reserve Governor preserves the status quo for now, allowing her to maintain her position on the central bank's policymaking committee.