'President failed to…': US Supreme Court blocks Trump's bid to fire Fed governor Lisa Cook

The Supreme Court ruled Monday that President Donald Trump does not have the authority to fire Federal Reserve Governor Lisa Cook from the central bank for now. But the opinion leaves open the possibility of dismissing her in the future. The court did not rule whether Trump ultimately will have the power to fire Cook or any other member of the Fed. Instead, the 5-4 ruling rejected Trump’s bid to pause a lower federal court ruling that had prevented her from being terminated as her lawsuit challenging her dismissal proceeds. Trump had claimed he sought to fire Cook because of allegations that she had committed mortgage fraud, which she adamantly denied.