We've got some breaking news. Federal Reserve Governor Lisa Cook is going to remain in her job,

at least through the September meeting of the Federal Reserve about interest rates,

because Judge Giacob in the District of Columbia has issued her preliminary injunction blocking the firing of Lisa Cook,

finding that there has been no for cause reason

for her termination, determining that she has been deprived of her Fifth Amendment rights to have

due process before she's deprived of her job and also finding that Donald Trump violated,

the Trump administration violated the Federal Reserve Act because the stated reason,

even if she was given proper due process, the stated reason for Lisa Cook's dismissal was a mortgage

fraud or mortgage issue before she was on the Federal Reserve when she checked a couple of boxes and took

out two primary loans for two primary residences. And even if that were true, Judge Cobb has

declared, that does not rise the level of four cause, as that term is widely known in the removal

arena because it does not constitute what's called

inefficiency, neglect of duty, or malfeasance. Particularly, Judge Cobb said that the bad conduct

that is the basis for the removal in order to protect the independence of the Federal

Reserve must have occurred while the person

was in office. And the allegations that Bill Pulte, the Nepo baby donor to Donald Trump that runs

Fannie Mae and Freddie Mac, the ones that he has made deal with her taking out mortgages before

she was appointed by Joe Biden.

Information and facts, the judge observed that would have been available during her confirmation process.

So she is blocking Donald Trump from taking out Lisa Cook.

What will happen next?

An appeal, likely an emergency appeal and stay up to the D.C. Circuit Court of Appeals on the way to the Supreme Court.

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