U.S. Supreme Court blocks Trump's unprecedented attempt to fire Federal Reserve Governor Lisa Cook

The U.S. Supreme Court ruled 5-4 on June 29, 2026, blocking President Donald Trump's attempt to fire Federal Reserve Governor Lisa Cook, marking the first time a president has tried to remove a Fed official since the central bank's creation in 1913. Chief Justice John Roberts wrote the majority opinion, joined by Justice Brett Kavanaugh and the three liberal justices, stating that Trump failed to provide Cook the procedural protections required by statute and that Fed governors serve staggered 14-year terms removable only 'for cause.' Cook, the first Black woman to serve as a Fed Governor, welcomed the decision, calling the mortgage fraud allegations a pretext for removing her due to monetary policy disagreements. The ruling preserves the Fed's independence amid Trump's broader challenges to the central bank, including a separate criminal investigation against former Chair Jerome Powell that was later dropped. In a related ruling the same day, the court backed Trump's firing of FTC member Rebecca Slaughter, expanding presidential removal powers over regulatory agencies.