An appeals court in the United States has ruled that Lisa Cook can keep her seat on the Federal Reserve for now, in a setback to President Donald Trump’s bid to fire the governor over as yet unproven claims of fraud.

In a 2-1 ruling issued late on Monday, the US Court of Appeals for the District of Columbia found that the Trump administration had not met the “stringent requirements” to stay a lower judge’s ruling that Cook should keep her position while the courts consider the grounds for her removal.

The ruling came a day before the Federal Reserve’s rate-setting committee is set to begin two days of deliberations on whether to lower interest rates.

Members of the Federal Open Market Committee are expected to lower the benchmark interest rate by at least a quarter percentage point.

Wr

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