The Supreme Court of the United States on Monday denied the dismissal of the governor of the Federal Reserve, Lisa Cook, by the American president, Donald Trump, until the judicial litigation against her dismissal is completed.

With a vote of 5 to 4, the ruling allows Cook to remain in his position to guarantee a procedure prior to dismissal, by determining the “independence” of the central bank from presidential control.

Chief Justice John Roberts argued that upholding Trump's decision "would effectively transform the Federal Reserve's protection against arbitrary dismissal—which requires just cause—into an at-will employment regime; an interpretive leap incompatible with the law enacted by Congress and with our nation's tradition of having a central bank protected from political interference."

Trump fired Cook last August, the first governor dismissed in the 111-year history of the Federal Reserve (Fed), alleging her involvement in alleged mortgage fraud.

The governor filed a lawsuit against her dismissal on the grounds that there was no “justifiable cause.”

He also rejected the allegations of mortgage fraud for which he is accused of declaring two different homes as his main residence to obtain greater access to a mortgage.

A court annulled the order until a final decision was issued, a suspension endorsed today by the Supreme Court.

The dissenting opinion of Justice Clarence Thomas described the ruling as “incorrect” although he expressed “concern” that it marked the first impeachment of a president in its history.

The Federal Reserve Act of 1935 prevents a president from removing any member of the Fed Board except “for cause,” which is generally interpreted as negligence or malfeasance in office.

This guarantees protection against interference and politicization of monetary policy decisions, recently questioned by Trump's measures. EFE