Supreme Court Keeps Lisa Cook at Federal Reserve

The US Supreme Court has decided to let Lisa Cook continue as a Federal Reserve governor, temporarily blocking efforts by the Trump administration to remove her from the position. The court will hear arguments in January regarding the administration's attempt to oust her from the Fed board.

In a crucial development, the US Supreme Court has allowed Lisa Cook to retain her position as a governor at the Federal Reserve, at least for the time being. This decision counters the Trump administration's push for her immediate removal from one of the nation's most influential financial institutions.

On Wednesday, the high court declined to take immediate action on the matter but indicated its intention to address it. The justices have scheduled a hearing for January, during which they will consider arguments pertaining to former President Donald Trump's efforts to depose Cook from the Federal Reserve's board.

This unfolding judicial battle underscores the ongoing tensions surrounding appointments and removals within key financial institutions, likely impacting future precedents concerning the governance of such prominent bodies.

(With inputs from agencies.)