The U.S. Supreme Court on Wednesday declined to let US President Donald Trump immediately fire Federal Reserve Board Governor Lisa Cook, instead scheduling oral arguments for January in what could become a defining battle over the Fed’s independence.

The brief unsigned order means Cook, a Democratic appointee reappointed by President Joe Biden in 2022 to a 14-year term, will remain on the board while the case unfolds. A ruling is expected before June, according to CBS.

Trump had asked the justices to allow her removal at once, citing “for cause” powers under the Federal Reserve Act. But the court’s refusal suggests there wasn’t enough support for such an extraordinary emergency move.

Why Lisa Cook is in the crosshairs

Cook, the first Black woman to serve as a Fed governor, has been a

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