Supreme Court to Decide Trump's Controversial Federal Reserve Dismissal

The U.S. Supreme Court case examines President Trump's attempt to dismiss Federal Reserve Governor Lisa Cook, allegedly using social media, amidst allegations of mortgage fraud. The case raises broader questions about presidential powers and the independence of the central bank, as well as constitutional due process rights.

The U.S. Supreme Court is set to examine President Donald Trump's effort to dismiss Federal Reserve Governor Lisa Cook in an unprecedented case that challenges presidential powers and tests the central bank's independence. Trump's action is under scrutiny for possible constitutional violations during the dismissal process.

Cook, the first Black woman to serve in her position, argues that the removal violated her due process rights under the Fifth Amendment. The dispute arises amidst allegations of mortgage fraud, which Cook denies, suggesting they serve as a pretext for her dismissal based on her monetary policy stance.

As the case unfolds, the focus will also be on Trump's use of social media for official announcements. Lower courts have sided with Cook, and the Supreme Court's decision could have far-reaching implications for the balance between executive authority and judicial review.

(With inputs from agencies.)