Fed's Cook asks court to reject bid to remove her

Federal Reserve board member Lisa Cook asked a U.S. appeals court to reject the Trump administration's bid to remove her from her post ahead of the central bank's next vote on interest rates this week.

In a filing with the court Saturday, attorneys on behalf of Cook asked the court to refuse Trump administration's emergency request for a stay of a lower court ruling, which would clear the way for President Donald Trump to remove Cook from the board. Cook's lawyers argue that the administration hasn't showed sufficient cause to fire her. The court gave the Trump administration the option to respond to Cook's filing by 3 p.m. Eastern on Sunday.

The Fed's interest rate-setting committee meets Tuesday and Wednesday. Senate Republicans are pushing to confirm Stephen Miran, Trump's nominee to an open spot on the board, which could happen as soon as Monday.