US 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, questioning the 'very low bar of cause' for her removal.
• Trump sought to fire Cook, a key official on the Fed's interest rate-setting committee, over allegations of mortgage fraud, which she denies.
• Justices, including Trump appointee Brett Kavanaugh, expressed concerns that allowing presidents to dismiss Fed governors at will could 'weaken, if not shatter, the independence of the Federal Reserve'.
• Solicitor General John Sauer, representing the Trump administration, argued that Cook's alleged 'deceit or gross negligence' merited her dismissal.
• Cook's lawyer, Paul Clement, stated she made an 'inadvertent mistake' and emphasized the importance of the Fed's independence from political pressure.

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