A federal judge on Friday weighed President Trump’s attempted ouster of Federal Reserve board of governors member Lisa Cook, acknowledging that the case raises “important questions” that courts may not have mulled before.

At the first hearing in Cook’s lawsuit challenging her firing, U.S. District Judge Jia Cobb recognized the “novel issues” before her.

“I keep returning to the unique nature of this board and the need for independence,” Cobb said at one point.

Trump announced Cook’s dismissal Monday, citing allegations of mortgage fraud raised in a criminal referral from the Federal Housing Finance Agency (FHFA) as “cause” for her removal.

The move challenged the Fed’s longstanding independence from the White House’s political influence and has prompted the courts to weigh in on a new front in the president’s quest to expand executive power.

Cook filed suit over the “unprecedented and illegal attempt” to fire her Thursday.

The Federal Reserve Act says the president can only remove members of the governing board “for cause.” Until now, the courts have not weighed what that means because a........

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