U.S. federal appeals court

U.S. federal appeals court has rejected President Donald Trump’s effort to remove Federal Reserve Governor Lisa Cook, setting up a last-minute showdown before the central bank’s key interest rate meeting on Tuesday.

The 2-1 ruling from the D.C. Circuit Court of Appeals leaves Cook, a Biden appointee, in place just hours before the Federal Open Market Committee begins its September session. The administration has said it will urgently appeal to the Supreme Court, which could determine whether Cook is allowed to participate in the meeting.

Judges J. Michelle Childs and Bradley Garcia, both nominated by President Joe Biden, voted to …