Trump Can't Fire Lisa Cook, Supreme Court Rules

The Supreme Court ruled Monday that President Donald Trump cannot fire Federal Reserve Governor Lisa Cook over alleged issues with her personal mortgage, dealing a major blow to the president and further shielding the Fed from political interference.

The court, in a 5-4 ruling, said Cook was denied "procedural protections." The ruling definitively protects Fed officials from being fired at will by a president.

Roberts: "transform the Federal Reserve's for-cause protection into at-will employment" / "our Nation's tradition of central banking protected from political interference."

Majority: "for cause" removal "does not mean that he may make that decision for any reason, or no reason"

Roberts (due process floor): "At minimum, Cook was entitled to some explanation of the evidence at issue, some avenue for a response" and "Only after Cook has had the opportunity to respond to the charges made against her may a final decision be made."

Trump (Truth Social): lost on a "strictly procedural basis" and "will take appropriate action immediately to make sure that someone who has committed wrongdoing"

Barrett (dissent): "a modest approach would have been appropriate"; flagged the "most significant problem" as the majority's broad statements on Fed independence

Thomas (dissent): "Apparent mortgage fraud was a 'cause' to remove Cook."

Lowell (mortgage detail): "impossible to conclude" she intended fraud; any contrary reference "at most an inadvertent notation."

The court also ruled Monday that the president can fire members of other independent boards at will, overturning a 90-year precedent. The Fed was treated differently - Cook could stay in her role during litigation while other officials could be removed.

Other documents showed the Atlanta property described as a vacation home.