By Elisabeth Buchwald, Dan Berman, CNN

(CNN) — President Donald Trump cannot remove Lisa Cook from the Federal Reserve’s Board of Governors for now, a federal appeals court said in an emergency ruling Monday, just hours before the central bank’s two-day monetary policy meeting was set to kick off.

The decision from the US Court of Appeals for the District of Columbia Circuit, split 2-1 along party lines, marks another defeat for the White House’s efforts to control the Fed and economic policy. Trump has sought to oust Cook over allegations of mortgage fraud, though Cook has not been charged with any wrongdoing.

The Federal Reserve Act specifies that presidents can only fire Fed governors “for cause,” and Trump has sought to leverage allegations of mortgage fraud as a sufficient cause fo

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