A Supreme Court police officer guards in front of the U.S. Supreme Court in Washington, D.C., the United States, on June 29, 2026. The U.S. Supreme Court ruled on Monday that U.S. President Donald Trump does not have the authority to fire Federal Reserve Governor Lisa Cook for now. (Photos: Xinhua)

NEW YORK, June 29 (Xinhua) -- The U.S. Supreme Court ruled on Monday that U.S. President Donald Trump does not have the authority to fire Federal Reserve Governor Lisa Cook for now.

But the 5-4 ruling did not say whether Trump ultimately will have the power to fire Cook or any other member of the Fed.

Under the Federal Reserve Act, U.S. president can remove a Fed governor only "for cause."

In August 2025, Trump fired Cook over allegations that she committed mortgage fraud before becoming a Fed governor. Cook promptly challenged the action in court and remained on the seat after a federal district court judge and the Supreme Court blocked her removal pending the outcome of her lawsuit challenging Trump's action.

The Supreme Court heard oral arguments in Cook's case on Jan. 21. During the hearing, multiple justices expressed skepticism that Trump had legal grounds to fire her, as well as worries that Trump's action would weaken the independence of the Federal Reserve.

Though Trump claimed that he was removing Cook over the mortgage fraud allegation, Cook and others believed he was doing so because she refused to vote for interest rate cuts. Trump has been demanding rates cut from the Fed ever since he started his second term in the White House.

Cook, appointed by former President Joe Biden, is the first Black woman to serve as a Fed governor.

This photo taken on June 29, 2026 shows the U.S. Supreme Court in Washington, D.C., the United States. The U.S. Supreme Court ruled on Monday that U.S. President Donald Trump does not have the authority to fire Federal Reserve Governor Lisa Cook for now.