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

• The US Supreme Court will hear arguments on President Trump's attempt to dismiss Federal Reserve Governor Lisa Cook, impacting the central bank's independence.
• Trump sought to remove Cook, a key official on the Fed's interest rate-setting committee, over allegations of mortgage fraud, which she denies.
• Fed Chair Jerome Powell plans to attend the hearing, signaling the case's importance amid Trump's pressure campaign against the central bank.
• The case could determine if the Fed's legal protections against political pressure will hold, or if the president can target its leadership.
• Federal law states Fed officials can only be removed for "cause," which Cook argues does not exist in her case.

Why It Matters: The Supreme Court will decide if Trump can fire a Fed Governor, testing the central bank's independence.