US judge temporarily blocks Trump from removing Fed Governor Cook

A federal judge on Tuesday temporarily blocked President Donald Trump from removing Federal Reserve Governor Lisa Cook, an early setback for the White House in an unprecedented legal battle that could upend the central bank's long-held independence.

The preliminary ruling by U.S. District Judge Jia Cobb in Washington, D.C. found that the Trump administration's claims that Cook committed mortgage fraud prior to taking office were likely not sufficient grounds for her removal.

Cook denies any wrongdoing.

"President Trump has not identified anything related to Cook’s conduct or job performance as a Board member that would indicate that she is harming the Board or the public interest by executing her duties unfaithfully or ineffectively," Cobb wrote in her ruling.