Judge rules on fate of Lisa Cook, Fed governor in Trump's crosshairs

Core Points - A federal judge has blocked President Trump from firing Federal Reserve Governor Lisa Cook, allowing her to remain in her position for the time being, with an appeal expected from the administration [1][2] - The judge indicated that Cook has demonstrated "irreparable harm" due to her absence from the Federal Reserve, emphasizing her role in monetary policy [3] - Cook's lawsuit against Trump argues that her firing undermines the independence of the Federal Reserve, and it does not address the allegations of mortgage application fraud against her [10][11] Legal Proceedings - U.S. District Judge Jia Cobb has moved Cook's request into a preliminary injunction, which will maintain her status until the case is resolved [2] - The case is expected to be complex, with both sides facing novel legal questions [7] - Cook's attorneys have been granted additional time to file a formal motion for a temporary restraining order (TRO) [7][8] Background Information - Cook was ousted by Trump on August 25, leading her to file a lawsuit three days later [10] - The allegations against Cook involve misrepresentation of multiple properties in mortgage filings, which were brought to light by a Trump appointee [11] - Cook's appointment marked a historic milestone as she became the first Black woman to serve on the Federal Reserve Board [13][15]