US Supreme Court blocks Trump's attempt to fire Fed governor Lisa Cook

The US Supreme Court on June 29 (local time) blocked President Donald Trump's attempt to remove Lisa Cook from the Federal Reserve's Board of Governors.

The court ruled 5-4 that Cook may keep her seat while her lawsuit challenging the dismissal proceeds.

The New York Times described the ruling as narrow in scope, noting that the court did not weigh in on whether Trump's firing of Cook was lawful — only that she could remain in her position during the litigation.

Trump announced Cook's dismissal last August, accusing her of fraud in connection with mortgage applications. It was the first time in the Fed's history that a president had sought to remove one of its governors.

Cook's legal team argued that any errors on her part were the result of negligence, not intent, and accused Trump of pushing the dismissal in order to fill the Fed with loyalists.

However, the court also ruled that Trump may fire officials at other independent agencies, including the Federal Trade Commission. The decision broadly affirms the president's authority to dismiss officials at independent agencies, with the Fed as the sole exception.

Chief Justice John Roberts said the Fed plays a "unique role" and said the court's majority opinion allowing the president to remove heads of independent agencies should not extend to the Fed.

Trump celebrated the ruling on his Truth Social platform, calling it "a big win."

Meanwhile, the Supreme Court is issuing a string of major rulings ahead of its summer recess. A decision on whether Trump's executive order restricting birthright citizenship was lawful is also expected this week.