Lisa Cook can remain a Federal Reserve governor for now, a US appeals court has ruled, in a setback for Donald Trump even as his nominee for Federal Reserve governor Stephen Miran was confirmed by the Senate.
The United States Court of Appeals for the District of Columbia late on Monday rejected an eleventh-hour bid by the president to put on hold a lower-court ruling that allowed Cook to remain in post while the courts decide whether he can remove her over allegations of mortgage fraud.
The decision means Cook is set to keep her seat at the Fed going into this week’s meeting of the rate-setting Federal Open Market Committee meeting, which begins on Tuesday.
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