Core Points - The Supreme Court will hear arguments regarding Fed Governor Lisa Cook in January 2026, allowing her to remain on the Federal Reserve Board until then [1][3][7] - The Trump administration's attempt to remove Cook based on allegations of mortgage fraud has been deferred, marking a legal victory for her team [3][6] - Ongoing investigations into the fraud allegations will continue until the Supreme Court's decision [6][7] Federal Reserve Implications - Lisa Cook's continued presence on the Federal Reserve Board ensures stability through the upcoming October and December meetings [9] - Changes in the Federal Reserve Board, including the reappointment of presidents, are expected in early 2026, which could influence future policy directions [10] - The outcome of the Supreme Court case may impact the administration's ability to make changes within the Federal Reserve [10][11]