Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
WASHINGTON, Sept. 16 (Xinhua) — A U.S. federal appeals court on Monday rejected U.S. President Donald Trump's request for early removal of Federal Reserve Board member Lisa Cook, local media reported on Monday.
On Monday, a panel of the U.S. Court of Appeals for the District of Columbia Circuit ruled 2-1 that at this stage of the case, the appeals court “does not need to” decide whether the charges against Cook meet the “good cause” test for removing a Federal Reserve board member.
That means the Trump administration has just a few hours to take the case to the Supreme Court before the Fed's key rate-setting meeting begins Tuesday morning. Without a Supreme Court ruling, Cook will be able to attend and vote at the Federal Open Market Committee meetings on Tuesday and Wednesday.
On September 9, a federal judge blocked Trump's decision to remove Cook and ordered her to be reinstated immediately.
Also on Monday, the U.S. Senate voted 48-47 to confirm Stephen Miran, one of Trump's top economic advisers, as a member of the Federal Reserve Board. Miran will replace Adriana Kugler, who resigned from the board in early August. Miran is expected to serve through the end of Kugler's term, which expires in January.
Miran is reportedly planning to retain his post as chairman of the White House Council of Economic Advisers while taking unpaid leave. –0–
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