The U.S. Supreme Court will wait until next year before considering an appeal by the Trump administration to overturn a lower court order barring the president from removing Governor Lisa Cook from the Federal Reserve board.
Trump in August announced he was removing Cook after Federal Housing Finance Agency Director William Pulte alleged that she made false statements on mortgage agreements. Cook filed a lawsuit against the administration in U.S. District Court for D.C., arguing that federal law allows the president to remove Fed governors only “for cause,” and that the claims made against her have not been investigated or proven.
A U.S. district court granted a temporary restraining order preventing Cook’s removal while it considers the case. The administration appealed the ruling, but in a 2-1 decision, the U.S. Court of Appeals for D.C. ruled that, given the unique circumstances of the case and Cook’s “strong likelihood” of success on her claim that she was denied due process, it would not overturn the lower court decision. The administration then appealed to the Supreme Court.
In an order today, the high court said that the administration’s application for a stay is deferred pending oral argument in January 2026. The order means Cook will remain on the board and the Federal Open Market Committee, which will meet two more times before January.
