Powell: Trump's Bid to Oust Lisa Cook 'Most Important Legal Case' in Fed History

• Federal Reserve Chair Jerome Powell stated that the Supreme Court case regarding Donald Trump's attempt to remove Fed Governor Lisa Cook could be the most significant legal challenge in the central bank's history.
• Powell emphasized the case's importance, calling it "perhaps the most important legal case in the Fed's 113-year history."
• He made these remarks while explaining his attendance at the January 21 court hearing concerning Trump's effort to fire Cook.
• Powell has previously described a Trump Justice Department investigation into the Fed as politically motivated.
• He declined to comment on Treasury Secretary Scott Bessent's criticism of his presence at the hearing.

Why It Matters: Jerome Powell views Trump's attempt to remove Lisa Cook as the Fed's most critical legal battle.