A judge on Tuesday night blocked President Donald Trump from firing Federal Reserve Governor Lisa Cook as a lawsuit challenging her removal continues.
"The public interest in Federal Reserve independence weighs in favor of Cook's reinstatement," U.S. District Court Judge Jia Cobb wrote in granting Cook a preliminary injunction barring her termination.
Cobb said that "Cook has made a strong showing that her purported removal was done in violation of the Federal Reserve Act's 'for cause' provision."
"The best reading" of that provision is that the bases for removing a Fed governor are limited to actions relating to that governor's 'behavior in office,' " the judge wrote in Washington, D.C., federal court.
"'For cause' thus does not contemplate removing an individual purely fo