The court is likely to let Lisa Cook keep her position|@federalreserve|X

The Supreme Court on Wednesday indicated it was likely to prevent President Trump from immediately dismissing Lisa Cook from the Federal Reserve’s governing board.

Justices across the ideological spectrum raised concerns that her dismissal could undermine the central bank’s independence.

Those concerns suggest the court is likely to let Cook keep her position, at least while her legal challenge proceeds.

Several justices noted that this would be the first time in the Fed’s 112-year history that a president has interfered with its statutory independence by firing one of its members, sparking the debate over Fed independence as Trump and the Justice Department have also taken aim at Fed Chair Jerome Powell.