Trump Handed Legal Loss as Judge Blocks Him From Firing Lisa Cook

Afederal judge temporarily blocked President Donald Trump's attempt to oust Lisa Cook from the Federal Reserve's Board of Governors, allowing her to continue serving as she contests her recent dismissal, according to the court ruling.

Newsweek contacted the White House for comment via email after office hours.

Why It Matters

Trump's bid to fire Cook comes as he ramps up pressure on the Fed to lower interest rates. The president has repeatedly criticized Jerome Powell, chair of the central bank, for not cutting the Fed's short-term interest rate more aggressively and has threatened to fire him.

The president announced on August 25 that he was firing Cook, "in light of your deceitful and potentially criminal conduct in a financial matter," adding that he no longer had "confidence in your integrity." He cited allegations of mortgage fraud.