US Supreme Court appears reluctant to let Trump fire Fed’s Lisa Cook
AI Summary
The US Supreme Court heard arguments regarding former President Trump's attempt to fire Federal Reserve Governor Lisa Cook. The justices appeared skeptical of Trump's request to immediately remove Cook, who he accused of mortgage fraud, while her legal challenge proceeds. Concerns were raised about the lack of opportunity for Cook to formally respond to the allegations and the potential impact on the Fed's independence and the economy. The court, with a conservative majority, seemed reluctant to grant Trump's request, leaving Cook in her position for the time being. Cook stated that the case is about whether the Federal Reserve will succumb to political pressure. Federal Reserve Chairman Jerome Powell also attended the arguments.
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