Lisa Cook was nominated to the Fed's governing board by former president Joe Biden. The US Supreme Court on Wednesday barred Donald Trump from immediately firing Federal Reserve Governor Lisa Cook, as the president mounts multiple challenges that have tested the independence of the central bank. Over the summer, Trump attempted to fire Cook, who serves on the Fed's powerful seven-person governing board, claiming that she had falsified statements on her mortgage agreements. In response to Wednesday's Supreme Court order, a White House spokesperson told AFP that the administration had "lawfully removed" Cook, and looked "forward to ultimate victory after presenting our oral arguments before the Supreme Court in January." Cook currently remains a member of the Fed's governing board, and the bank's powerful interest rate-setting committee.