Judge temporarily blocks Trump's firing of Lisa Cook at Federal Reserve

A federal judge on Tuesday granted a temporary restraining order blocking President Donald Trump’s firing of Federal Reserve governor Lisa Cook for now

A federal judge on Tuesday granted a temporary restraining order blocking President Donald Trump’s firing of Federal Reserve governor Lisa Cook for now.

The ruling means Cook will remain on the board of the central bank until her case is heard at length. She is allowed to continue carrying out her work during that time.

In granting the order, U.S. District Judge Jia Cobb said that "the Court will enter an injunction directing [Fed Chair Jerome] Powell and the Board of Governors to allow Cook to continue to operate as a member of the Board for the pendency of this litigation."

"The public interest in Federal Reserve independence weighs in favor of Cook’s reinstatement," Cobb wrote. "That independence is critical in helping the nation’s 'banking system to promote stability.'"

Lawyers for Cook argued in federal court in Washington that Trump’s attempt to fire her for “mortgage fraud” was illegal and lacked “cause,” which is the only reason a Fed governor can be removed. “Cause” is commonly understood to be some kind of wrongdoing.