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The Trump administration has appealed a federal judge's ruling that temporarily prevents the removal of Federal Reserve Governor Lisa Cook. Cook is accused of mortgage fraud, a claim the judge deemed insufficient for her dismissal. The appeal aims for a resolution before the Federal Reserve's upcoming interest-rate-setting meeting on September 16, 2025. The case raises significant questions about the independence of the Fed from political influence. Cook, who denies any wrongdoing, argues that the allegations are a pretext for her removal due to her monetary policy stance. The legal battle could ultimately reach the Supreme Court.
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