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Judge blocks removal of Federal Reserve Governor Cook, Trump administration quickly appeals

Internet reported that the Trump administration moved quickly on Wednesday to appeal a federal judge's previous decision to temporarily prevent him from removing Federal Reserve Governor Cook. The move is aimed at advancing Trump's move to remove Cook. The U.S. Department of Justice filed a brief notice to formally appeal the ruling of U.S. District Court Judge Ja Cobb late Tuesday. Judge Cobb pointed out in his ruling that Trump claimed that Cook had committed mortgage fraud before taking office, but this reason is likely not sufficient to constitute a legal basis for dismissal. Cobb's temporary injunction prohibits the Federal Reserve from pursuing Cook's dismissal proceedings until the conclusion of his lawsuit. Before the Justice Department filed an appeal, White House spokesman Kush Desai said Trump had dismissed Cook for legitimate reasons in accordance with the law and said "this ruling will not be final." The case is likely to eventually reach the Supreme Court, and the outcome will have a profound impact on the Fed's ability to independently formulate interest rate policy without political interference.

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