In a stunning late-night legal blow to the White House, a federal appeals court has slammed the brakes on President Donald Trump's attempt to oust Federal Reserve Governor Lisa Cook, ensuring she will participate in a crucial policy meeting this week.

The ruling, handed down Monday night by the U.S. Court of Appeals for the District of Columbia Circuit, represents a significant setback for the President and a major victory for the independence of the nation's central bank. The decision came just hours before the Federal Open Market Committee (FOMC) was set to begin its pivotal two-day meeting on Tuesday morning, where decisions on national interest rates hang in the balance.

The legal drama escalated last Thursday when Trump's attorneys launched an emergency bid to freeze a lower-court ruling. That initial ruling had blocked the President from firing Cook while her own lawsuit challenging the termination proceeds. The administration was desperately seeking a "stay pending appeal" which would have effectively removed Cook from her post immediately.

However, the appellate court was not convinced. In a brief but powerful order, the judicial panel stated that the President's team had "not satisfied the stringent requirements for a stay pending appeal." This decisive language shut down the administration's attempt to sideline the Fed governor ahead of the critical vote.

This ruling means Governor Cook, a key member of the Fed's board of governors, will take her seat at the table to deliberate on the country's monetary policy. Her voice and vote will now be counted in a decision that will impact markets and households across America. The outcome of this legal skirmish is being viewed as a critical defense against political pressure on the Federal Reserve, an institution designed to operate independently of the White House.

As of the ruling, the White House had not issued a response to requests for comment, leaving a tense silence hanging over the unfolding power struggle. With Cook's position secured for now, all eyes are on the FOMC as it convenes under the shadow of this unprecedented legal fight.