{"id":231114,"date":"2025-09-16T10:24:12","date_gmt":"2025-09-16T10:24:12","guid":{"rendered":"https:\/\/www.europesays.com\/us\/231114\/"},"modified":"2025-09-16T10:24:12","modified_gmt":"2025-09-16T10:24:12","slug":"us-appeals-court-blocks-trumps-bid-to-fire-lisa-cook-from-federal-reserve-financial-markets-news","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/231114\/","title":{"rendered":"US appeals court blocks Trump\u2019s bid to fire Lisa Cook from Federal Reserve | Financial Markets News"},"content":{"rendered":"

Court rules that Cook\u2019s claim that she was denied due process has a \u2018strong likelihood of success\u2019.<\/p>\n

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Published On 16 Sep 202516 Sep 2025<\/p>\n

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An appeals court in the United States has ruled that Lisa Cook can keep her seat on the Federal Reserve for now, in a setback to President Donald Trump\u2019s bid to fire the governor over as yet unproven claims of fraud.<\/p>\n

In a 2-1 ruling issued late on Monday, the US Court of Appeals for the District of Columbia found that the Trump administration had not met the \u201cstringent requirements\u201d to stay a lower judge\u2019s ruling that Cook should keep her position while the courts consider the grounds for her removal.<\/p>\n

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The ruling came a day before the Federal Reserve\u2019s rate-setting committee is set to begin two days of deliberations on whether to lower interest rates.<\/p>\n

Members of the Federal Open Market Committee are expected to lower the benchmark interest rate by at least a quarter percentage point.<\/p>\n

Writing for the majority, Circuit Judge Bradley Garcia said Cook\u2019s claim that she had been denied due process was \u201cvery likely meritorious\u201d and had a \u201cstrong likelihood of success\u201d.<\/p>\n

\u201cI agree with the district court\u2019s conclusion that Cook\u2019s due process claim is likely to succeed,\u201d Garcia, an appointee of former President Joe Biden, said in the decision.<\/p>\n

Garcia said the Trump administration did not dispute that it had given Cook \u201cno meaningful notice or opportunity to respond to the allegations against her\u201d.<\/p>\n

\u201cThe government argues only that Cook \u2018does not explain what difference a hearing would have made\u2019,\u201d he said.<\/p>\n

\u201cEven accepting that premise, Cook\u2019s entitlement to process stands apart from whether she would succeed in securing a different outcome.\u201d<\/p>\n

Trump ordered the immediate removal of Cook, one of the seven members of the Fed\u2019s board of governors, last month in an unprecedented move that stoked fears for the independence of the US central bank.<\/p>\n

Trump, who has for months pressured the Fed to lower interest rates, said he took the action in view of evidence that Cook had made false statements on a mortgage application.<\/p>\n

Cook has argued that her firing was illegal and challenged the move in court.<\/p>\n

Under the Federal Reserve Act and US Supreme Court precedent, the president must demonstrate \u201ccause\u201d, widely interpreted to mean malfeasance, to fire any of the central bank\u2019s governors.<\/p>\n

No president has ever removed a Fed governor in the 111-year history of the bank.<\/p>\n

Separately on Monday, the US Senate\u00a0voted 48-47\u00a0to confirm Stephen Miran, the chair of Trump\u2019s Council of Economic Advisers, to the Fed\u2019s board of governors.<\/p>\n

Democrats have raised concerns about Miran\u2019s independence in light of his refusal to resign from his White House post and instead take a leave of absence.<\/p>\n","protected":false},"excerpt":{"rendered":"Court rules that Cook\u2019s claim that she was denied due process has a \u2018strong likelihood of success\u2019. Published…\n","protected":false},"author":3,"featured_media":231115,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[64,438,79,439,50,67,132,68,72],"class_list":{"0":"post-231114","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-business-and-economy","10":"tag-economy","11":"tag-financial-markets","12":"tag-news","13":"tag-united-states","14":"tag-unitedstates","15":"tag-us","16":"tag-us-canada"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115213492244525699","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/231114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=231114"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/231114\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/231115"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=231114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=231114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=231114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}