The US Supreme Court has ruled that President Donald Trump lacks the authority to remove Federal Reserve Governor Lisa Cook from her post, at least for the immediate future.
The decision effectively halts the administration's legal effort to dismiss Cook, allowing her to continue serving on the central bank's board of governors.
The court did not issue a final determination on whether the president ultimately possesses the power to fire a Fed governor.
Instead, the ruling addresses the immediate procedural question, keeping Cook in her role while the broader legal challenge proceeds.
This interim outcome prevents a sudden vacancy on the seven-member board and maintains the current balance of voting members during a period of heightened political scrutiny.
Markets have been closely watching the legal battle between the White House and the Federal Reserve, with concerns that removing Cook could further politicize the central bank and disrupt monetary policy continuity.