Trump is trying to oust Cook from her role as part of a standoff between the president and the US central bank.

Trump's attorneys wanted a lower-court ruling, which temporarily barred Cook's firing, stayed ahead of the Fed's upcoming meeting on interest rates.

In a 2-1 decision, the appeals court found that Cook's due process rights were violated because the administration did not give her a formal opportunity to respond to the charges.

Ruling comes as US president pushes to weaken central bank’s independence

A federal appeals court on Monday rejected President Donald Trump's attempt to fire Federal Reserve Governor Lisa Cook.

The Trump administration is expected to quickly turn to the Supreme Court in a last-ditch bid to unseat Cook before the Fed meets.

Cook’s claim that she was denied due process has a ‘strong likelihood of success’, court rules

Trump is trying to oust Cook from her role as part of a standoff between the president and the US central bank.