Instant Reaction: Supreme Court Blocks Trump from Firing Fed's Lisa Cook
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 29 June 2026
⏱️ 30 minutes
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Summary
The US Supreme Court ruled that Federal Reserve Governor Lisa Cook can stay in her job for now, reinforcing the central bank’s independence from the White House and dealing a setback to President Donald Trump.
In a separate ruling, the court expanded the president’s power to fire top government officials at other federal agencies.
Voting 5-4, the high court said Cook can remain at the Fed while she fights Trump’s bid to oust her over unproven mortgage fraud allegations. Chief Justice John Roberts and Justice Brett Kavanaugh joined the three liberals in the majority.
Bloomberg's Paul Sweeney and Scarlet Fu got reaction from:
- June Grasso, Bloomberg Law Host
- Elliot Stein, Bloomberg Intelligence litigation analyst
- Tyler Kendall, Bloomberg Washington correspondent
- Gautam Mukunda, Lecturer at Yale School of Management and Bloomberg Opinion contributor
See omnystudio.com/listener for privacy information.
Transcript
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| 1:04.5 | Paul, we have some breaking news. |
| 1:05.9 | The Supreme Court, of course, publishing its opinions today. |
| 1:08.4 | It has expanded the president's power to fire top officials. |
| 1:12.7 | It refuses to let the president immediately oust Lisa Cook, however, and Lisa Cook is now currently allowed to stay in the job for now. |
| 1:22.7 | All right, let's bring in June Grasso, Bloomberg's legal annals here. She joins us here in studio. Let's start with the Lisa Cook decision here, June. Can you summarize what's going on here? |
| 1:33.7 | So, Lisa Cook, as you know, Federal Reserve Governor and Donald Trump tried to fire her on the basis of allegations of mortgage fraud. So there was no any kind of procedure at all |
| 1:48.0 | before he said that. So during the oral arguments, it was pretty clear that the Supreme Court |
| 1:53.3 | justices were going to vote with Lisa Cook and not allow Trump to do that because of the |
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