MNI BRIEF: DOJ Appeals Fed's Cook Firing Case To Supreme Court

The Trump administration Thursday asked the Supreme Court to pause a federal appeals court ruling that allowed Federal Reserve Governor Lisa Cook to continue to serve on the Fed Board, despite President Trump's attempt to fire her. 

The government argued the district court lacked authority to order Lisa Cook's reinstatement to the Fed and said that so long as the president identifies a cause, the determination of "some cause relating to the conduct, ability, fitness, or competence of the officer" is within the president’s unreviewable discretion. (See: MNI INTERVIEW: Cook Could Face Long Odds Before Supreme Court) 

The case is the latest in Trump's campaign to fire the heads of independent agencies and is seen as an unprecedented attempt to gain greater power over the central bank. Chief Justice Roberts will decide whether to grant the government’s request for an administrative stay. Earlier this month Roberts allowed Trump to fire for now a Democratic appointee to the Federal Trade Commission. 

Cook attended the two-day Federal Open Market Committee meeting this week and voted to cut interest rates by a quarter percent amid signs of a softening labor market.