President Donald Trump on Monday vowed to take further action against a Federal Reserve governor, Lisa Cook, after the Supreme Court let her remain on the central bank's board while her legal challenge to his attempt to remove her continues.
"The Cook Lawsuit, having to do with her suitability in sitting on the Board of the Federal Reserve, was sent back by the Supreme Court on a strictly procedural basis," Trump wrote on Truth Social.
"We will take appropriate action immediately to make sure that someone who has committed wrongdoing will not be making vital decisions concerning the Welfare of the United States of America!" the president added.
Trump's statement came shortly after the Supreme Court issued a pair of decisions that broadly expanded presidential authority over independent federal agencies while carving out an exception for the Federal Reserve.
In a separate 6-3 ruling, the court held that presidents generally have the authority to remove leaders of independent agencies, overturning the 1935 Humphrey's Executor precedent that limited executive power over agencies such as the Federal Trade Commission.
But in Cook's case, the justices voted 5-4 to leave the Federal Reserve governor in her position while litigation over her dismissal proceeds.
According to The Associated Press, Chief Justice John Roberts wrote that allowing Cook's immediate removal "would turn for-cause protection into little more than at-will employment," signaling that the Federal Reserve occupies a unique constitutional position because of its role in setting U.S. monetary policy.
Cook, who was nominated by former President Joe Biden, has denied allegations that she improperly claimed two homes as primary residences on mortgage applications before joining the Fed. She has not been charged with a crime.
The Trump administration has argued the allegations provide sufficient grounds to remove Cook and has maintained that courts should not second-guess the president's decision.
Solicitor General D. John Sauer has argued the mortgage applications demonstrate "gross negligence at best."
The ruling lets Cook remain one of the Federal Reserve's seven governors while her lawsuit moves forward.
The case has drawn close attention from financial markets because a successful removal could let Trump appoint another governor and potentially reshape the central bank's policy direction.
Trump has repeatedly urged the Federal Reserve to lower interest rates, arguing that cheaper borrowing costs would benefit American families, businesses, and the federal government.
While Monday's decision temporarily preserved Cook's position, the broader Supreme Court rulings marked a significant victory for the Trump administration by expanding presidential authority over most independent federal agencies, leaving the Federal Reserve as the court's principal exception for now.
Trump indicated Monday that his administration intends to continue pursuing Cook's removal through additional legal or administrative action.