The Supreme Court just told the President of the United States that he cannot fire a Federal Reserve governor on a whim. In a 5-4 ruling issued on June 29, the Court sided with Fed Governor Lisa Cook, blocking President Trump’s attempt to remove her from the board and reaffirming protections that have shielded the central bank from political interference for over a century.
What actually happened
Trump moved to fire Cook in August 2025, citing allegations of mortgage fraud. Cook called those allegations “flimsy” and politically motivated. She denied them outright.
It was, by any historical measure, extraordinary. No sitting president had attempted to dismiss a Federal Reserve governor in the institution’s 112-year existence.
A district court issued an injunction in September 2025, keeping Cook in place. An appeals court denied the administration’s emergency relief request that same month. The Supreme Court then denied Trump’s emergency request in October 2025, and oral arguments were finally heard in January 2026.
