US President Donald Trump has appealed a court ruling that removed Federal Reserve Governor Lisa Cook from her post, ahead of the Fed’s key interest rate decision this week. The Trump administration has accused Cook of mortgage fraud and argued that the removal “for cause” is within the president’s power and is not subject to judicial oversight. Cook, however, has objected, saying it violates her authority and legal rights.
New evidence has emerged that Cook was correct in using the Atlanta property as a vacation home, undermining the fraud claim. The case has sparked debate over presidential immunity and the independence of the Fed.
The legal move comes just before the Fed is expected to cut interest rates by 25 basis points to 4.0%–4.25% at its September 18 meeting, the first since late 2024.
