Nick Timiraos, a Wall Street Journal reporter known as the Fed's mouthpiece, said in a post on social media that Jia Cobb, a US federal judge, had temporarily blocked Mr. Trump's removal of Mr. Cook, the Fed governor. The court will issue an injunction directing Mr. Powell and the board to allow Mr. Cook to remain on the board during the proceedings.
But the preliminary ruling by Jia Cobb, which is expected to eventually go to the US Supreme Court, does not address the key question of whether the Trump administration's claim that Cook was involved in mortgage fraud before taking office constitutes sufficient grounds for removal from office.
A US court ruling allows Cook to vote at next week's FOMC meeting
2025-09-10 02:46:19
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