New Delhi, June 29 -- The US Supreme Court on Monday refused to allow President Donald Trump to remove Federal Reserve Governor Lisa Cook, preserving the central bank's independence and dealing a setback to the administration's efforts to expand presidential authority over the Fed.

In a 5-4 ruling, the court denied the Justice Department's request to lift a lower court order that prevents Trump from firing Cook while her legal challenge continues.

The decision means Cook will remain on the Federal Reserve's Board of Governors as the case proceeds through the courts.

Court leaves Cook in office

Trump sought to dismiss Cook in August 2025, citing allegations of mortgage fraud involving properties she owns in Michigan and Georgia.

Cook,...