Federal Reserve Governor Lisa Cook isn’t going anywhere. The Supreme Court ruled that Cook can remain in her position while she contests President Trump’s attempt to remove her.
The case is about more than one governor’s job security. It’s a stress test for the institutional independence of the Federal Reserve itself.
How we got here
Cook was first appointed to the Fed Board of Governors in 2022 and reappointed for a 14-year term in 2023. Trump attempted to fire her in 2025, citing alleged mortgage fraud as grounds for removal. Cook has denied those allegations.
The Federal Reserve Act includes a “for cause” removal clause, meaning a president can’t fire a Fed governor without a legitimate reason that can withstand legal scrutiny.
