Federal Reserve Governor Lisa Cook remains in her role following the Supreme Court’s June 29, 2026, 5-4 ruling that blocked President Trump’s initial attempt to remove her over pre-appointment mortgage allegations, citing insufficient due process under the Federal Reserve Act’s “for cause” standard. The decision preserved central bank independence while leaving open the possibility of a renewed removal effort after proper notice and response, with litigation continuing in lower courts. Cook has stayed active on policy, recently highlighting persistent inflation above the 2% target, AI-driven price pressures into 2027, and supply shocks, while participating in the September quarter-point rate hike. Market-implied odds reflect uncertainty over whether the administration will pursue further procedural steps or if legal protections will hold through her 14-year term ending in 2038.