A federal court ruled Tuesday that the embattled Federal Reserve governor can remain in her position for now.

The ruling, which will almost certainly be appealed, is a blow to the Trump administration’s efforts to assert more control over the traditionally independent Fed.

Trump said he was firing Cook on Aug. 25 over allegations by one of his appointees that she committed mortgage fraud related to two properties she purchased in 2021, before she joined the Fed. Cook is accused of saying two properties were “primary residences,” which could have resulted in lower down payments and mortgage rates than if either was designated a second home or investment property.

Cook’s lawyers argued that firing her was unlawful because presidents can only fire Fed governors “for cause,” which has typic

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