US court rules that Cook is allowed to vote at next week's FOMC meeting

Jinse Finance reported that Nick Timiraos, a Wall Street Journal reporter known as the "Fed Whisperer," posted on social media that U.S. federal judge Jia Cobb has temporarily blocked Trump's attempt to remove Federal Reserve Governor Cook. The court will issue an injunction instructing Powell and the Board to allow Cook to continue serving as a board member during the litigation. However, Jia Cobb's preliminary ruling did not resolve the key issue of whether the Trump administration's claim that Cook was allegedly involved in mortgage fraud before taking office constitutes sufficient grounds for dismissal. The case is expected to eventually be heard by the U.S. Supreme Court.