The Supreme Court announced Wednesday that it will hear oral arguments in January over President Donald Trump’s attempt to fire Lisa Cook, a member of the Federal Reserve Board of Governors. In the meantime, the Supreme Court said that Trump is not allowed to remove her.
Cook sued the Trump administration after the president attempted to oust her, claiming that she committed mortgage fraud. It’s the first time a president has attempted to remove a sitting Fed governor, one of a series of moves the president has made to exert influence over the central bank, which sets interest rates.
Cook has denied the allegations. An appellate court ruled that her firing was unlawful, and denied the administration’s attempts to remove her.
The White House did not immediately respond to request for comment but previously told NOTUS that the president had exercised his lawful authority in his attempts to fire her.
Cook’s attorneys said the Supreme Court “decision rightly allows Governor Cook to continue in her role on the Federal Reserve Board.”
"[W]e look forward to further proceedings consistent with the Court’s order,” attorneys Abbe David Lowell and Norm Eisen continued in a statement.
This article has been updated with a comment from Cook’s attorneys.