In 2025, the Supreme Court ruled against Trump's attempt to remove Cook, emphasizing the importance of the Federal Reserve's independence from political interference. The court noted that the removal would have shifted the 'for cause' protection into 'at-will employment,' contradicting federal law and tradition. Cook's legal team has dismissed the allegations as baseless, asserting that Trump's actions are an attempt to undermine the Fed's autonomy. They stated they will continue to challenge any efforts to remove her, reinforcing the Fed's historic role in U.S. financial policy.
October 9, 2026
Trump Establishes Committee to Investigate Fed Governor Lisa Cook
President Trump has formed a committee to investigate allegations against Federal Reserve Governor Lisa Cook, potentially leading to her removal.
Impact
The investigation could further strain the relationship between the Trump administration and the Federal Reserve, potentially affecting market confidence in the institution's independence.