Fed Vows to Heed Court Rulings on Governor Lisa Cook

The Federal Reserve said it will comply with any court ruling concerning Governor Lisa Cook, underscoring in a written statement that members of the Board of Governors "may only be removed for cause." The central bank’s comments come amid unspecified legal questions about Cook’s tenure and the extent of presidential authority over the board. Former President Donald Trump, responding separately, also stated he would respect court decisions regarding the Fed. Neither the White House nor the Justice Department immediately commented on the matter.