US court allows Fed's Cook to stay in role ahead of rate meeting

A federal appeals court ruled Monday that Governor Lisa Cook could remain in her role for now at the US central bank – with a rate-setting meeting this week – after US President Donald Trump sought to fire her.

Trump has sought to oust Cook from the Federal Reserve over allegations of mortgage fraud, but the ruling from the US Court of Appeals for the District of Columbia Circuit allows her to participate in a key two-day interest rate meeting due to start early Tuesday.