Federal Reserve Governor Lisa Cook is currently in a legal battle against the Trump administration, who attempted to forcibly remove her from the central bank before a crucial interest rate decision. Cook's legal team emphasized the importance of maintaining Fed independence in a filing with a U.S. appeals court on Saturday. They argued against the administration's bid for a stay on a lower court decision that prevented Cook's removal. The attorneys highlighted that granting the stay could set a dangerous precedent, jeopardizing the Fed's autonomy. They warned that if successful, it could pave the way for the president to dismiss other board members without valid reasons, ultimately eroding the independence of the Federal Reserve. This situation raises significant concerns for the nation's economy.