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

• The US Supreme Court expressed deep skepticism regarding Donald Trump's attempt to remove Federal Reserve Governor Lisa Cook, fearing it could undermine the Fed's independence.
• Justices from across the ideological spectrum questioned the administration's assertion of broad authority to fire a Fed official without judicial review.
• Concerns were raised about the lack of due process for Cook, who was not given an opportunity to formally respond to mortgage fraud allegations cited by Trump.
• Conservative Justice Brett Kavanaugh warned that granting such power could "weaken, if not shatter," the Fed's independence, encouraging politically motivated removals.
• The case, unprecedented since the Fed's 1913 creation, could significantly impact the balance of power between the presidency and independent federal institutions.

Why It Matters: The Supreme Court is skeptical of Trump's attempt to fire Fed Governor Lisa Cook, emphasizing the Fed's independence.