Supreme Court rejects Trump's attempt to fire Fed's Lisa Cook as legal battle continues

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June 29, 2026 / 10:21 AM EDT

/ CBS News

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Washington — The Supreme Court on Monday allowed Lisa Cook to continue in her post as a member of the Federal Reserve Board of Governors while legal proceedings over President Trump's attempt to fire her continue.In a 5 to 4 decision, the high court rejected the president's bid to allow him to oust Cook from her role as Fed governor following allegations of mortgage fraud. Mr. Trump first came to the Supreme Court for emergency relief last September, and the justices had let Cook remain in her job at the central bank while they considered whether to freeze a lower court decision that blocked her firing.The Supreme Court has now left that lower court decision intact while Cook's legal challenge to her removal proceeds.Chief Justice John Roberts wrote the opinion for the majority, joined by Justices Sonia Sotomayor, Elena Kagan, Brett Kavanaugh and Ketanji Brown Jackson.This is a breaking news story and will be updated.