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A federal appeals court has rejected President Donald Trump’s bid to quickly fire Federal Reserve board member Lisa Cook.
The decision leaves the president just hours to ask the Supreme Court to oust her before a critical interest-rate setting meeting kicks off Tuesday.
The 2-1 ruling Monday by a panel of the D.C. Circuit Court of Appeals is unlikely to be the last word on the matter, given the anticipated Supreme Court action. But it sets up a race against the clock to determine whether Cook, a Biden appointee who Trump tried to fire last month, will participate in this week’s Fed meeting.
Judges J, Michelle Childs and Bradley Garcia, both Biden appointees, voted to leave Cook in her post, while Judge Gregory Katsas, a Trump appointee, dissented.
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