Well this is disappointing. The Supreme Court has ruled Federal Reserve Governor Lisa Cook will remain in her post for now. President Trump previously terminated Cook but the Supreme Court’s latest ruling has decided she will remain in her post until oral arguments in her case begin in January of 2026. CNBC reported more on the Supreme Court’s surprising decision: The Supreme Court on Wednesday allowed Federal Reserve Governor Lisa Cook to remain in her post pending oral arguments in January on whether President Donald Trump has legal cause to fire her. The court’s move is a blow to Trump, who has repeatedly and unsuccessfully asked federal courts to allow him to terminate Cook from the Fed’s Board of Governors without delay while her lawsuit challenging her removal is pending. Trump has cited claims that Cook committed mortgage fraud as his reason for firing her from the seven-member board. But his first effort to remove her in August came after he, for months, had unsuccessfully pressured her, Fed Chair Jerome Powell and other members of the central bank to cut interest rates Cook denies any wrongdoing in connection with statements she made before joining the Fed in applying for mortgages on two homes she owns in Michigan and Georgia. She has not been legally charged with making false statements on those mortgage applications. In its order Wednesday, the Supreme Court bluntly said, without elaboration, that Trump’s request to stay a federal district court’s injunction against removing Cook is “deferred pending oral argument in January 2026.” The actual date of the argument was not set. The order said the Supreme Court’s clerk would establish a schedule for the filing of legal briefs in the case, including ones by outside parties who have an interest in the outcome. The question before the Supreme Court is whether President Trump has the right to remove a credibly accused mortgage fraudster from the Federal Reserve. Lisa Cook had no problem committing mortgage fraud to get lower rates for herself, but she refuses to lower rates for… https://t.co/cfGZrUVtn8 pic.twitter.com/PW8WkdcbCx — James Fishback (@j_fishback) October 1, 2025 The Associated Press reported more on the Supreme Court’s blow to President Trump: Cook will be able to take part in the remaining two Fed meetings in 2025, including the next meeting of its interest rate-setting committee in late October. Separately, the justices are hearing arguments in December in a separate but related legal fight over Trump’s actions to fire members of the boards that oversee other independent federal agencies. The case concerns whether Trump can fire those officials at will. But a second issue in the case could bear directly on Cook’s fate: whether federal judges have the authority to prevent the firings or instead may only order back pay for officials who were wrongly dismissed. Trump had sought to oust Cook before the September meeting of the Fed’s interest rate-setting committee. But a judge ruled that the firing was illegal, and a divided appeals court rejected the Trumps administration’s emergency appeal. A day after the meeting concluded with a one-quarter of a percentage point reduction in a key interest rate, the administration turned to the Supreme Court in a new emergency appeal. The White House campaign to unseat Cook marks an unprecedented bid to reshape the Fed board, which was designed to be largely independent from day-to-day politics. No president has fired a sitting Fed governor in the Fed’s 112-year history. “President Trump lawfully removed Lisa Cook for cause from the Federal Reserve Board of Governors. We look forward to ultimate victory after presenting our oral arguments before the Supreme Court in January,” White House spokesman Kush Desai said. The court already has suggested that it will view the Fed differently from other independent agencies and Wednesday’s order is another demonstration of that distinction, said Lev Menand, a professor at Columbia Law School and author of a book on the Fed. The justices have allowed other firings to take effect while legal challenges proceed, including in the case that will be argued in December involving Rebecca Slaughter, whom Trump fired from the Federal Trade Commission. “The court seems to be steering a different course here,” Menand said. “It has the effect of freezing the status quo that is in favor of Fed independence.”