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Tampering with the Federal Reserve's independence proved to be a bridge too far.
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The president promised to "take appropriate action immediately" against Lisa D. Cook, a Fed governor.
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The decision is a setback for Trump, who alleged that Lisa Cook committed mortgage fraud and has complained that the Fed is not dropping interest rates quickly enough.
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In a rare dissent from the bench, Justice Sonia Sotomayor said that the Supreme Court undid "centuries of political practice," and that the court concluded that the federal government had been acting in "open defiance of the Constitution."
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