In a pivotal ruling with significant implications for the balance of power between the executive branch and independent federal institutions, a federal judge has issued a preliminary injunction blocking former President Donald Trump’s attempt to remove Federal Reserve Governor Lisa Cook from her Senate-confirmed position.
The ruling represents a critical affirmation of the Federal Reserve Act’s “for cause” removal protections and reinforces the principle of institutional independence that has long been considered essential for the proper functioning of the United States’ central banking system.
Background of the Case. The controversy began when President Trump sought to dismiss Governor Lisa Cook, who was serving as one of the seven members of the Board of Governors of the Federal Reserve System. The Federal Reserve Board plays a central role in…
