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Powell at Supreme Court to Defend Fed's Cook: A Power Struggle?

Federal Reserve Chair Jerome Powell will attend the Supreme Court oral argument Wednesday regarding Lisa Cook's attempted firing. This unprecedented move signals strong support for the Fed governor. The high court is weighing the legality of President Trump's effort to remove Cook.

Trump sought to fire Cook in August. Powell's attendance marks a shift from his previous approach. Last week, Powell announced the Trump administration issued subpoenas to the Fed. He condemned these as attempts to manipulate interest rates.

The Supreme Court's decision could redefine presidential power over the Federal Reserve. The Fed's independence is crucial for economic stability. Any perceived political interference could shake market confidence.

Powell, appointed by Trump in 2018, oversaw three rate cuts. Trump repeatedly attacked the Fed's policies. Powell's recent actions suggest a more assertive defense of the Fed's autonomy.

The Supreme Court's ruling will have far-reaching implications. The decision will clarify the extent of presidential authority over the Federal Reserve Board. The financial world will be watching closely.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

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