In an unprecedented rebuke to Donald Trump's power over the world's most influential central bank, the United States Supreme Court ruled on 29 June 2026 that his attempt to fire Federal Reserve Governor Lisa Cook was unlawful and 'erroneous and void from the start'.
The 5-4 ruling, authored by Chief Justice John Roberts and joined by conservative Justice Brett Kavanaugh alongside the court's three liberal justices, blocks Trump from removing Cook while her legal challenge proceeds. It is the first time in the Federal Reserve's 113-year history that a president has attempted to fire a sitting governor.
