WASHINGTON, D.C. (Michigan News Source) – Next stop: the U.S. Supreme Court.

An appeals court ruled this week that Lisa Cook can remain a Federal Reserve governor, which will likely lead to a Supreme Court challenge brought by the Trump administration.

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Cook is pushing back in court against her Aug. 25 firing from the independent board by President Donald Trump. A lower court judge ruled in favor of Cook last week and reinstated her to the Fed’s board.

Director of the Federal Housing Finance Agency (FHFA) Bill Pulte accused Cook of mortgage fraud because she allegedly claimed two properties as “primary residences” in July 2021 before she joined the board. Those claims allegedly included homes in Michigan and Georgia, and can have a direct impact on lower mortgage rates and smaller down payments.

Journalist Charlie LeDuff found that renters, not Cook, lived at the Michigan residence.

Cook has denied the mortgage fraud allegations.