Trump Can’t Fire Fed's Lisa Cook for Now, US District Judge Says

Legal & Regulatory Landscape - A judge ruled that Lisa Cook's conduct on the job is the only grounds for removal as a Federal Reserve governor [1] - The alleged mortgage fraud occurred a year before Cook became a Fed governor, suggesting Trump may not have cause for dismissal [2] - The case is significant as it's the first time a president has sought to remove someone at the Fed, and the Federal Reserve Act is vague on what constitutes "cause" for removal [2] - The ruling could have lasting effects on clarifying what is justified as "cause" in this scenario [3] - The case is likely to be appealed and could end up at the Supreme Court quickly [3] - The Supreme Court has also fast-tracked the case against Trump's tariffs, with hearings beginning in November [3] - The aggressive schedule highlights the importance of the merits of the case [4]