The White House says it will ask the Supreme Court to allow the firing to go forward.

The Fed is poised to cut borrowing costs against the backdrop of a weakening U.S. labor market.

The Trump administration asked the Supreme Court on Thursday to immediately allow the president to fire Federal Reserve Gov. Lisa Cook while the case against her continues in an appeals court.

In its request for emergency relief from the high court, the Justice Department said that the justices should freeze a lower court decision that ordered Cook to be reinstated to her post on the Fed B...