Supreme Court allows Fed’s Lisa Cook to keep job for now

The U.S. Supreme Court issued a brief, unsigned order on Wednesday allowing Federal Reserve board member Lisa Cook to keep her position pending oral arguments in January, pausing a high-profile dispute between President Donald Trump and the Biden appointee. The Supreme Court order came in response to an emergency petition from Trump asking the justices to overturn a lower court ruling that prohibited him from firing Cook. The high court’s order did not include a ruling on the petition and only grants justices more time for a decision.

What led to this? Trump initially tried to fire Cook in August, claiming in a White House letter that she made false statements on mortgage agreements. But Cook refused to leave office, saying the firing was illegal, and sued the administration in response. A federal appeals court ruled early last month that the administration could not terminate Cook while her lawsuit was ongoing. The Department of Justice then appealed to the Supreme Court. 

Dig deeper: Read my previous report for more background on the Trump administration’s emergency Supreme Court petition.