Supreme Court blocks Trump's attempt to fire Federal Reserve governor Lisa Cook
Summary
The U.S. Supreme Court stopped President Donald Trump's effort to remove Federal Reserve Governor Lisa Cook. The court ruled that the administration must give her a fair chance to respond before firing her.Key Facts
- The Supreme Court voted 5-4 against President Trump's attempt to fire Lisa Cook.
- The justices said the administration did not give Cook enough "due process," meaning a fair chance to defend herself.
- The case is sent back to lower courts for further review.
- The administration must prove claims that Cook committed mortgage fraud if it wants to fire her.
- Lisa Cook denies the mortgage fraud accusations.
- Supporters of the Federal Reserve say the accusations might be an excuse for the president to control the bank more.
- The Federal Reserve is the U.S. central bank that sets monetary policy.
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