'This ruling is not the final word:' Trump appeals order blocking him from firing Fed governor Cook

Core Viewpoint - The ongoing legal battle between President Trump and Federal Reserve Governor Lisa Cook centers around Trump's attempt to fire Cook, which has been temporarily blocked by a federal judge, potentially leading to a Supreme Court case [1][5]. Legal Proceedings - Trump has filed an appeal against U.S. District Court Judge Jia Cobb's ruling that blocked Cook's firing, with the administration considering seeking an emergency pause to the judge's order [1][5]. - Judge Cobb's ruling indicated that Cook's termination likely violated the Federal Reserve Act, which restricts at-will firings of Board members [5][7]. Allegations and Defense - White House spokesperson Kush Desai stated that Trump removed Cook due to credible allegations of mortgage fraud, asserting that the president acted lawfully [2][4]. - The allegations against Cook originated from Bill Pulte, a Trump appointee, who linked her to properties involved in mortgage fraud referrals to the Justice Department [8][9]. Cook's Response - Cook has filed a lawsuit against Trump and other parties, claiming that her firing was unlawful and undermined the Federal Reserve's independence [9]. - Cook's legal team argues that the allegations regarding her mortgage filings do not pertain to her conduct while in office, which is the basis for removal under the Federal Reserve statute [7][9]. Criminal Investigation - The Justice Department has initiated a criminal investigation into Cook regarding the mortgage application fraud allegations, which could complicate her position on the Federal Reserve Board [11].