Trump v. Cook: Federal Reserve Board

Under the Federal Reserve Act, the president may remove a member of the Federal Reserve Board of Governors only "for cause" — a protection Congress designed to insulate monetary policy from direct presidential control. The Trump administration moved to remove Governor Lisa Cook after allegations of mortgage fraud, which she strongly denies, and the Court is considering whether that removal was lawful and whether the president's judgment on what qualifies as "for cause" is subject to judicial review at all. The case is closely tied to Trump v. Slaughter and could significantly affect the Fed's long-standing independence from political interference.