Labor & Employment Law Daily Wrap Up, LITIGATION NEWS, TRENDS—State AGs file amicus brief in Trump v. Cook, (Oct 30, 2025)

By Brandi O. Brown, J.D.

“The Federal Reserve must be able to make decisions that protect the nation’s long-term economic stability, not ones driven by politics.”

California Attorney General Rob Bonta announced that he joined a coalition 23 attorneys general, led by Colorado Attorney General Philip J. Weiser, in filing an amicus brief in the U.S. Supreme Court in Trump v. Cook, a case concerning President Trump’s attempt to remove Federal Reserve Governor Lisa Cook from her position on the Federal Reserve Board. In the brief, the AGs have asked the High Court to allow Cook to remain in her post while litigation in the case proceeds, citing concerns that Cook’s removal would cause downstream economic harms to states.

Economic stability, not politics. “No president is above the law. Congress, not the White House, sets the limits on presidential power over independent agencies like the Federal Reserve,” said Attorney General Weiser. “The Federal Reserve must be able to make decisions that protect the nation’s long-term economic stability, not ones driven by politics. When the Fed’s independence is threatened, families and communities in Colorado feel the impact through higher costs, less stability, and greater uncertainty in their daily lives.”

For the Federal Reserve Board to function as Congress intended, dismissals of governors for cause must mean something more specific than an unreviewable reason left entirely to the President’s discretion, the AGs argue. Otherwise, “for cause” then means “for whatever reason the President decides,” which is nothing more than termination at the President’s discretion because he does not like the person or the decisions the board is making—an approach to governing the U.S. financial system that Congress has rejected.

States will feel impacts. “The Federal Reserve Board serves all Americans by promoting the health and stability of the U.S. economy and financial system. By continuing his attempt to remove Governor Lisa Cook—one of seven essential board members—President Trump is not only undermining the Board’s independence but also threatening to throw an institution that safeguards California’s economy into chaos,” said Attorney General Bonta. “From designing their state budgets to taking out a mortgage, the State of California and its people depend on stability, independence, and good governance at the Federal Reserve. I urge the U.S. Supreme Court to uphold the preliminary injunction that has allowed Governor Cook to continue her work on the Board of Governors while litigation proceeds.”

Weiser likewise notes that Colorado and other states rely on stable economic forecasts to plan budgets, fund schools, and provide essential services. Disrupting the Federal Reserve’s independence, he notes, would make that work harder and more expensive for taxpayers.

In the brief, the AGs argue that allowing Trump to immediately remove Cook would undermine the judiciary's important role in ensuring the President acts within his authority. Cook’s sudden removal, they argue, would likely result in higher and more volatile inflation, unemployment, and market conditions that may harm states by undermining the projections used to craft state budgets; increasing costs to provide state services; and increasing costs for state services to support people who are unemployed.

Joining Bonta in filing the amicus brief are the attorneys general from Arizona, Connecticut, Colorado, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, New York, North Carolina, Oregon, Rhode Island, Vermont, Washington, Wisconsin, and the District of Columbia.

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