By Christopher Rugaber And Lindsay Whitehurst WASHINGTON (AP) \u2014 A federal court has ruled that embattled Federal Reserve Gov. Lisa Cook can remain in her position while she fights President Donald Trump\u2019s efforts to fire her. The ruling, which will almost certainly be appealed, is a blow to the Trump administration\u2019s efforts to assert more control over the traditionally independent Fed, which sets short-term interest rates to achieve its congressionally mandated goals of stable prices and maximum employment. Congress has also sought to insulate the Fed from day-to-day politics. U.S. District Judge Jia Cobb late Tuesday granted Cook’s request for a preliminary injunction blocking her firing while the dispute makes its way through the courts. Cobb ruled that Cook would likely prevail in the lawsuit she filed late last month… <\/p>\n
By Christopher Rugaber And Lindsay Whitehurst WASHINGTON (AP) \u2014 A federal court has ruled that embattled Federal Reserve Gov. Lisa Cook can remain in her position while she fights President Donald Trump\u2019s efforts to fire her. The ruling, which will almost certainly be appealed, is a blow to the Trump administration\u2019s efforts to assert more control over the traditionally independent Fed, which sets short-term interest rates to achieve its congressionally mandated goals of stable prices and maximum employment. Congress has also sought to insulate the Fed from day-to-day politics. U.S. District Judge Jia Cobb late Tuesday granted Cook’s request for a preliminary injunction blocking her firing while the dispute makes its way through the courts. Cobb ruled that Cook would likely prevail in the lawsuit she filed late last month... <\/p>\n