WASHINGTON (AP) — President Donald Trump’s goal of appointing a majority of the Federal Reserve’s board of governors faced a setback late Tuesday when a court blocked his unprecedented attempt to fire Lisa Cook.

But the very next next day, his nominee to replace another Fed governor moved forward, giving him one more opportunity during his second term to reshape the Fed.

Over time, Trump will almost certainly get the lower short-term interest rate he is seeking, economists say, although it’s unlikely the Fed will shave 3 percentage points from its current level of about 4.3%, as he has demanded, even if he gets most of the seats on the seven-member board.

On Wednesday, Trump got one step closer to reaching a majority when the Senate Banking Committee approved the president’s nomination

See Full Page