BREAKING: Supreme Court Releases Highly Anticipated Decision

The U.S. Supreme Court on Wednesday issued a brief, unsigned order in a case pitting President Donald Trump against Lisa Cook, a Biden appointee on the Federal Reserve’s Board of Directors.

Cook, who was just three years into a 14-year term, filed suit after Trump attempted to fire her for cause, citing allegations of mortgage fraud originating from a federal mortgage authority run by Bill Pulte, a fierce ally of the president who has targeted other Democrats with similar claims.

The high court declined to immediately take up the case in an emergency order requested by the president, stymying his ability to control a majority of the board ahead of the Fed’s next meeting. President Trump has been clear that he hopes to pressure the Fed into further cutting interest rates.

Instead, justices will wait until January to hear arguments from the Trump administration about why Cook should be dismissed.

The unsigned order states simply that the court “deferred pending oral argument in January 2026.”

In a separate but related case, the Supreme Court will hear arguments about whether President Trump has the authority to fire members of other boards that have historically operated independently from the White House. The case hinges on whether Trump has the authority to fire their members at will.

A second issue in the case, however, may affect Cook: whether judges have the right to block executive actions related to firings or instead may only award back pay if the terminations were found to be wrongly enforced, the AP reported.

The decision means that Cook will retain her spot on the Board of Directors for the time being.

Cook has not been charged with any crime, but the president has insisted she is guilty of submitting false information related to a third property she purchased in Maryland. According to Pulte, director of the Federal Housing Finance Agency, Cook allegedly listed the property as her primary residence, an illogical statement given that she already declared a private residence at her first and second properties in Georgia and Michigan.

The Fed cut interest rates by a quarter of a point in September, thrilling Wall Street as markets breathed a sigh of relief and economists were astonished by the limited impact of tariffs. Trump has pressured Chairman Jerome Powell to act more aggressively, arguing that the “too late” Fed chief is hampering the U.S. economy at a time when Republicans want to tout a turnaround from the malaise of the Biden era.

President Trump has not yet acknowledged the court’s decision. Shortly before its release, he was touting estimates showing that his tariffs have resulted in a 42.9% reduction in trade deficits with other nations, according to one of his latest Truth Social posts.