The Supreme Court of the United States allowed on Wednesday (1) that the director of the Federal Reserve (Fed), Lisa Cook, remains in her position while waiting for the lawyers’ oral support phase in January, whether President Donald Trump has a legal basis to fired her, according to report by CNBC.
The decision represents a setback for Trump, who repeatedly requested, unsuccessfully, that the federal courts would allow the immediate resignation of Cook of the council of Fed governors.
The case came from a criminal complaint presented by the director of the Federal Housing Financing Agency, Bill Pulte, which possibly for lower interest rates. Cook has properties in Michigan, Georgia and Massachusetts.
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Trump dismissed Cook based on the allegations of mortgage fraud, which led the governor to file a lawsuit contesting her resignation from the Fed.
