Powell Will Attend Supreme Court Hearing on Lisa Cook’s Lawsuit Against Trump
The New York Times • • business
Key Points:
- Federal Reserve Chair Jerome H. Powell will attend Supreme Court oral arguments regarding President Trump's authority to remove Fed Governor Lisa D. Cook, highlighting the case's significance for the Fed's independence.
- The Trump administration alleges mortgage fraud against Cook, using it as "cause" for her removal, but Cook denies the allegations and has sued to challenge her ousting, arguing presidents can only remove Fed members "for cause."
- The Supreme Court previously allowed Cook to remain in her position while the lawsuit proceeds, underscoring ongoing legal uncertainty about presidential power over Fed officials.
- Powell’s attendance follows his recent public criticism of the Justice Department's subpoenas related to the Fed's headquarters renovation, framing the legal pressure as retaliation for the Fed's
%3Amax_bytes(150000)%3Astrip_icc()%2FFoods-You-Should-Buy-Every-Week-if-Youre-Taking-Ozempic-7bc85d310f074e0bacd33383c26fa41c.jpg?format=webp&w=1280)