Cook is still a governor of the Federal Reserve and can still participate in interest rate negotiations until the ruling is determined

On August 27, "Cook has indicated through her personal lawyer that she will immediately challenge the conduct in court and seek a judicial ruling to confirm her right to continue serving as a Senate-confirmed governor of the Federal Reserve," a Fed spokesperson said. "The Fed will, as always, abide by the court's ruling." The Fed's statement indicates that from the central bank's perspective, Cook's status as a governor has not changed, and she can still participate in the meeting unless the court rules before the next meeting. The Fed's next interest rate decision meeting is scheduled for September 16-17, and Trump has been pressing the Fed to cut interest rates sharply.