Trump moved to fire Cook last month, citing allegations by a member of his administration that she had committed mortgage fraud. No criminal charges have been filed, and Cook denies wrongdoing. She sued to stop Trump from ousting her.
The president is legally allowed to remove members of the Federal Reserve Board “for cause,” a phrase long understood to mean inefficiency, neglect of duty or malfeasance — but the specifics have never been tested in court.
Cook has shown strong evidence that her removal from the Fed board likely violated the law, Judge Jia Cobb wrote.
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