A US federal judge temporarily blocked President Trump's removal of Lisa Cook, a member of the US Federal Reserve Board, on Wednesday, Reuters reported, quoted by BTA.
The agency notes that this is an early setback for the White House in an unprecedented legal battle that could change the US central bank's long-standing independence from the executive branch.
President Donald Trump recently removed Cook, and she challenged his decision in court. Trump said that there would soon be a "majority" at the central bank to impose lower interest rates. This has raised concerns about preserving the independence of the Federal Reserve, traditionally considered crucial to the stability of the financial system.