Appeals court blocks Trump from removing Lisa Cook from the Federal Reserve board before interest rate meeting

A panel of federal judges blocked President Donald Trump from removing Lisa Cook from the Federal Reserve's board, hours before she and other top Fed officials are set to begin a meeting about whether to lower interest rates

A panel of federal judges blocked President Donald Trump from removing Lisa Cook from the Federal Reserve's board, hours before she and other top Fed officials are set to begin a meeting about whether to lower interest rates.

Two of three judges on the appeals court panel said the Trump administration had “not satisfied the stringent requirements for a stay pending appeal.”

A federal judge in Washington blocked Cook’s removal on Sept. 9, but the administration quickly appealed the ruling and asked the court to rule before the Fed’s next meeting on interest rates. That meeting begins Tuesday and concludes Wednesday.

Trump is likely to appeal Monday's ruling to the Supreme Court.

Trump moved to fire Cook in late August, citing allegations of mortgage fraud brought by one of his political appointees, Federal Housing Finance Agency Director Bill Pulte. Cook has not been charged with any crime and has denied the allegations.