Read the Trump Team's Response to the Motion for Temporary Restraining Order

The Federal Reserve Act (FRA) empowers the President of the United States to appoint (by and with the advice and consent of the Senate) the members of the Board of Governors of the Federal Reserve System. The statute thus expressly contemplates that, even setting aside his Article II authority over principal officers, the President retains broad discretion to remove a Governor for “cause.” Following nomination and Senate confirmation, Dr. Lisa Cook began serving as a Governor of the Board in May 2022.