The Supreme Court has allowed Federal Reserve Governor Lisa Cook to remain in her position until oral arguments can be heard on whether President Trump has the authority to fire her. The high court on Wednesday agreed to review Trump’s effort to remove Cook from her post. Oral arguments are scheduled for January. BREAKING: The Supreme Court has moved to allow Federal Reserve governor Lisa Cook to remain on the central bank board into 2026, saying it would take up President Trump's appeal seeking to remove her for cause during a hearing in January. Read more: https://t.co/i1YU8D1Ypg pic.twitter.com/FUXYaRQFdW — ABC News (@ABC) October 1, 2025 Fox News has more: The update comes roughly two weeks after Trump officials appealed the case to the high court for emergency review. Oral arguments are expected to be closely watched, given the unprecedented nature of the case, and the seismic shift that any ruling could have on U.S. economic decisions. In appealing the case to the Supreme Court, lawyers for the Trump administration argued that the Fed’s “uniquely important role” in the U.S. economy only heightens the government’s and public’s interest in reviewing the case. “Put simply, the president may reasonably determine that interest rates paid by the American people should not be set by a governor who appears to have lied about facts material to the interest rates she secured for herself — and refuses to explain the apparent misrepresentations,” Solicitor General D. John Sauer said Thursday in the appeal. The review of Cook’s case is significant. Trump’s attempt to fire Cook marked the first time in the bank’s 111-year history that a president has ever attempted to remove a sitting governor from Fed — a stridently independent body whose members are shielded by law against political pressures. Trump unsuccessfully asked federal courts to allow him to quickly remove Cook from her position amid allegations of mortgage fraud as the reason to fire her. U.S. District Judge Jia Cobb issued a preliminary injunction blocking Trump from terminating Cook while the case played out in court. BREAKING: Supreme Court will hear the case of Lisa Cook and Trump's attempt to fire her from the Fed Board in January. She will remain in her post in the meantime. https://t.co/WePsW4LFhG pic.twitter.com/7TT8APF4JA — Kyle Cheney (@kyledcheney) October 1, 2025 CNBC noted: Cook denies any wrongdoing in connection with statements she made in applying for mortgages on two homes she owns in Michigan and Georgia. The court simply noted the ruling without explanation, saying that a request from Trump to stay an injunction against removing Cook is “deferred pending oral argument in January 2026.” Aside from the immediate issue of getting Cook removed, the administration’s effort is seen as a potential landmark case for the long-held veneer of independence the Fed has enjoyed from political interference. Cook has not been charged with any crimes despite the White House’s allegation of fraud. Still, Trump has insisted that the accusations alone rise to the standard of “cause” that it would take for him to be able to remove a Fed official.