The US Supreme Court has ruled Lisa Cook can stay on as a Federal Reserve governor for now, a setback for President Donald Trump in his fight with the central bank.
In an unsigned order, the court turned down Trump's request to immediately remove Cook and said it would hear arguments over her firing in January.
Trump, who has blasted the Fed for not cutting interest rates as much as he would like, said in August he was removing Cook over claims of mortgage fraud, which she denied.
Cook immediately sued, saying her firing was illegal and opened the door to political interference in the independent Fed. No president has tried to remove a governor before, which can only be done "for cause".
A federal judge put a stay on her firing as the legal process played out, which the Supreme Court has upheld.
