A U.S. federal appeals court has rejected President Donald Trump’s attempt to remove Federal Reserve governor Lisa Cook. The 2-1 ruling by the D.C. Circuit said there was no need to decide yet whether the allegations against Cook meet the legal standard for dismissal. This means Cook will take part in the Fed’s key interest rate meeting beginning Tuesday, unless the Supreme Court intervenes.
Earlier this month, a federal judge had ordered Cook reinstated after Trump tried to oust her.
Meanwhile, the Senate confirmed Trump’s economic adviser Stephen Miran to the Fed’s board in a narrow 48–47 vote. Miran will serve the remainder of Adriana Kugler’s term through January and is expected to remain chair of the White House Council of Economic Advisers while on unpaid leave.
Credit : CGTN
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