Federal Reserve Governor Lisa Cook sued President Donald Trump in federal court on 28 Aug 2025 to stop his attempt to fire her, calling the move “unprecedented and illegal” and seeking a temporary restraining order that would keep her in office while the case proceeds. US District Judge Jia Cobb scheduled an emergency hearing for Friday. Trump said on 25 Aug that he had dismissed Cook “for cause,” citing unproven allegations that she misstated primary residences on two 2021 mortgage applications. Cook’s complaint, which also names the Federal Reserve Board and Chair Jerome Powell, argues the claims predate her May 2022 Senate confirmation, do not constitute the statutory “for-cause” standard and were raised without due process. If allowed to stand, the dismissal would give Trump a four-to-three majority on the seven-member board and, according to Cook, jeopardise the US central bank’s 112-year tradition of independence. The dollar slipped after the firing announcement and legal analysts expect a protracted fight that could reach the Supreme Court. Cook, the first Black woman to serve as a Fed governor, holds a term that runs until 2038.