Court rules Lisa Cook can remain a Fed governor for now while fighting Trump

A federal court ruled Tuesday that embattled Federal Reserve Governor Lisa Cook can remain in her position while she fights President Donald Trump’s efforts to fire her.

The ruling, which the Trump admin. is appealing, is a blow to the administration’s efforts to assert more control over the traditionally independent Fed, which sets short-term interest rates to achieve its congressionally mandated goals of stable prices and maximum employment. Congress has also sought to insulate the Fed from day-to-day politics.

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