Trump Bid to Fire Cook Before Fed Meeting Blocked by Court

(Bloomberg) -- The high-stakes showdown between the Trump administration and the US central bank intensified after an appeals court blocked the White House from removing Federal Reserve Governor Lisa Cook from her post for now.

The divided court in Washington on Monday night affirmed that Cook can continue working while her lawsuit challenging Trump’s move to dismiss her proceeds. The 2-1 ruling came just hours before Tuesday’s start of the Fed’s highly anticipated two-day meeting to vote on interest rates.