Judge Scraps Trump’s Bid to Fire Fed Gov Lisa Cook

President Donald Trump’s attempt to fire Lisa Cook, a member of the Federal Reserve Board, is likely illegal and she must be immediately reinstated, a federal judge ruled , Kyle Cheney, Josh Gerstein, Sam Suttin and Victoria Guida reported for Politico.

The decision sets up a high-stakes appeals court battle that could quickly reach the Supreme Court. (Photo: Board of Governors of the Federal Reserve System Facebook)

US District Judge Jia Cobb concluded that Trump’s effort to remove Cook over allegations of mortgage fraud that predated her Fed tenure violated a federal law meant to shield the interest-rate-setting body from political pressure.

Only misconduct on the job could justify her removal, Cobb ruled, Callum Jones also reported for The Guardian.

The decision sets up a high-stakes appeals court battle that could quickly reach the Supreme Court.

The justices have often endorsed Trump’s efforts to dismiss powerful regulators, but they have also signaled that the Fed — a “quasi-private” institution — may warrant greater independence than other agencies in the executive branch.

Federal law gives Trump authority to remove Fed governors “for cause,” typically meaning serious misconduct or malfeasance on the job, Jacob Shamsian and Brent D. Griffiths reported for Insider.