Lisa Cook can remain US central bank governor amid Trump efforts to dismiss her

Lisa Cook became governor of the US central bank in 2021 (AP)

A top US court has ruled that embattled Federal Reserve governor Lisa Cook can remain in her position while she fights Donald Trump’s efforts to fire her.

The federal court ruling, which will almost certainly face an appeal, is a blow to the Trump administration’s efforts to assert more control over the traditionally independent US central bank, which sets short-term interest rates to achieve its congressionally mandated goals of stable prices and maximum employment.