Trump v. Cook · ¶118

President Trump applied to this Court for a stay. The President is entitled to a stay if he is likely to succeed on the merits and the balance of the harms and equities favors him. See Nken v. Holder, 556 U. S. 418, 434 (2009). This Court deferred its decision on the application pending oral argument. Today, citing the need to maintain “the independence of the Federal Reserve,” ante, at 16, the Court denies the President’s application. It holds that the Federal Reserve Act provision authorizing the President to remove Cook for “cause” prohibited him from removing her for cause unless he first provided notice and a hearing. It also holds that federal courts can enter injunctive relief restoring a principal executive officer to her position after the President removes her.

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