Supreme Court Skeptical of Trump's Bid to Fire Fed Governor Lisa Cook

• The US Supreme Court appeared skeptical of President Donald Trump's attempt to dismiss Federal Reserve governor Lisa Cook, raising concerns about the central bank's independence.
• Trump sought to fire Cook in August, accusing her of mortgage fraud, which she denies. The Supreme Court had previously barred her immediate removal.
• During oral arguments, a majority of justices, including conservatives and liberals, doubted Trump had sufficient cause or provided due process for Cook's dismissal.
• Justice Brett Kavanaugh warned that a low bar for cause could allow presidents to dismiss Fed governors at will, weakening the institution's independence.
• Cook's lawyer argued her alleged mistake was inadvertent and emphasized the importance of the Fed's independence from political pressure, a sentiment echoed by Cook herself.

Why It Matters: The Supreme Court is questioning Trump's authority to fire a Fed governor, highlighting concerns over central bank independence.