WASHINGTON ¨C The two people with the most at stake in how the U.S. Supreme Court rules on whether President Donald Trump can legally fire a Federal Reserve governor sat through two hours of arguments on Wednesday over what constitutes ¡°cause¡± for dismissal and other issues critical to the future of the central bank¡¯s independence.
Fed Gov. Lisa Cook, whose firing Trump announced in a social media post in last August over unproven allegations of mortgage fraud, was joined in ?the court¡¯s ornate chamber by central bank Chair Jerome Powell, a notable show of support for his junior colleague even as Trump¡¯s Justice ?Department targets him ?in a separate criminal investigation.
Powell defied a warning from Treasury Secretary Scott Bessent not to attend, even ?though Bessent attended Supreme Court arguments over Trump¡¯s tariffs last November.
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