The Supreme Court seemed hesitant Wednesday to grant President Trump the power to fire Federal Reserve Governor Lisa Cook. The case, heard today, centers on the extent of presidential authority over the Fed and its potential impact on the central bank's independence. Trump's administration argued that presidential decisions to fire Fed board members for cause should not be subject to judicial review. Cook's legal team countered that unchecked presidential power would undermine the Fed's autonomy. The administration alleges Cook falsified loan documents, claiming she misrepresented primary residences. Cook's lawyers maintain one property was designated as a vacation home. Experts warn that allowing presidents to unilaterally remove Fed governors could destabilize financial markets. The court's decision will have far-reaching implications for the Fed's operational independence and its ability to manage monetary policy without political interference. A ruling is expected in the coming months.
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