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00:00What else do we know about this ruling? Well, it's really interesting to read the judge's opinion on why he decided to keep Lisa Cooke as a Federal Reserve governor while they consider the merits of the case. He said in his opinion that it's only Cook's conduct on the job that's grounds for removal. And given the alleged mortgage fraud actually took place a year before she was a sitting Fed governor, he's ruling essentially that Trump likely does not have cause for her dismissal. But this is a really important case to follow, Tom, because this is the first time a president has sought to remove someone at the Fed and given the law written into the Federal Reserve Act, the president can remove somebody for cause. But it's very vague on what cause actually entails. And this ruling really can have lasting effects on clarifying what is justified as cause in this scenario. But it sets up a very high stakes appeals court battle that is likely to end at the Supreme Court on their desks in a quick, quick fashion. But I do want to also mention, while we're talking about the Supreme Court, they've also decided to fast track the case against Trump's tariffs and will beginning hearings on it in November, which is a very aggressive schedule for the Supreme Court. But kind of just highlights how important it is for them to get the the merits of this case.

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Judge Says Trump Can’t Fire Fed’s Lisa Cook for Now

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