U.S. Supreme Court rules Trump cannot fire Fed Governor Lisa Cook for now

NEW YORK, June 29 — The U.S. Supreme Court ruled on Monday that U.S. President Donald Trump does not have the authority to fire Federal Reserve Governor Lisa Cook for now.

But the 5-4 ruling did not say whether Trump ultimately will have the power to fire Cook or any other member of the Fed. Under the Federal Reserve Act, U.S. president can remove a Fed governor only “for cause.”