"Cook is one of seven members of a Board that is, by design, not intended to be susceptible to policy pressure, let alone tasked with implementing the President's agenda," Cobb wrote.

Donald Trump was hit with a legal smackdown after trying to remove Federal Reserve governor Lisa Cook.

"This ruling recognises and reaffirms the importance of safeguarding the independence of the Federal Reserve from illegal political interference," Ms Cook's counsel Abbe David Lowell said in a statem...