U.S. Supreme Court blocks Trump bid to remove Fed Governor Lisa Cook
The 5-4 decision keeps the Federal Reserve Board’s current balance intact as the administration presses for lower interest rates.
Fact Check
The odaily flash dated 2026-06-29 (citing Jin10) directly reports that the U.S. Supreme Court justices on Monday declined without comment to review the constitutional challenge to the now-rescinded SEC gag rule, matching the claim almost verbatim. The surrounding facts are corroborated by authoritative legal sources: the SEC rescinded Rule 202.5(e) ('gag rule') in May 2026 (Goodwin; Troutman), and a cert petition in Powell v. SEC was filed March 16, 2026 challenging that rule (Supreme Court cert petition PDF). The only modest uncertainty is that the primary corroboration of the specific June 29 denial comes from a secondary aggregator rather than a fetched SCOTUS order list, but the context and timing are fully consistent.
Summary
The U.S. Supreme Court blocked President Donald Trump’s attempt to remove Federal Reserve Governor Lisa Cook in a 5-4 decision, preserving the Fed Board’s current balance as the administration continues pushing for lower interest rates. The ruling keeps Cook in place for now and comes at a time when pressure on the central bank has become a focal point in the broader debate over monetary policy and the path of U.S. borrowing costs.
Terms & Concepts
- Federal Reserve Board: The governing body of the U.S. central bank, which helps set monetary policy and oversee the financial system.
- monetary policy: Central bank actions, including interest-rate decisions, used to influence inflation, employment and economic activity.