According to PANews, a U.S. appeals court has rejected President Donald Trump's attempt to dismiss Federal Reserve Governor Lisa Cook. This marks the first time since the Federal Reserve's establishment in 1913 that a president has attempted such an action. The decision by the District of Columbia Circuit Court of Appeals allows Cook to remain at the Federal Reserve during its policy meetings on Tuesday and Wednesday, local time. The Trump administration is expected to appeal to the U.S. Supreme Court.
Additionally, on Monday, a Federal Reserve Board nominee, Milan, who was nominated by Trump, secured enough votes in the U.S. Senate for confirmation. This confirmation enables Milan to join the other 11 voting members in the Federal Reserve's interest rate decisions this week.