US Supreme Court allows Fed Governor Lisa Cook to stay in office for now

NEW YORK -- The US Supreme Court on Wednesday issued a brief and unsigned order, allowing Federal Reserve Governor Lisa Cook to stay in office before the court holds an oral argument in January 2026.

This has temporarily blocked US President Donald Trump's attempt to fire Cook, and maintained a critical firewall for now around the central bank's ability to make decisions without political interference from the Trump administration, local media reported on Wednesday.

Trump has been urging the Fed to cut interest rates for months in hopes that it would help boost economic growth while also reducing the government's own borrowing costs.

He fired Cook in late August, accusing her of making false statements on a mortgage application and aiming to replace her with his own hand-picked governor on the Fed's governing board. Cook has denied any wrongdoing.

The Supreme Court has allowed Trump to remove officials from other agencies such as the Federal Trade Commission. By issuing the order this time, it shows that the court is willing to at least consider some limits on the president's power, local media said.