Supreme Court Weighs Trump's Attempt to Oust Fed Governor Lisa Cook

The U.S. Supreme Court is examining President Trump's attempt to fire Federal Reserve Governor Lisa Cook, a move challenging the Fed's independence. Cook, the first Black woman appointed to the post, faces unsubstantiated claims of mortgage fraud. The case could redefine presidential influence over the Fed.

The U.S. Supreme Court began hearing arguments on Wednesday regarding President Donald Trump's attempt to remove Federal Reserve Governor Lisa Cook. This case tests the boundaries of presidential power in relation to the central bank, marking a significant legal contest since Trump returned to office a year ago.

The Trump administration seeks to overturn a judicial order preventing Cook's dismissal amid legal proceedings. Representing Trump, U.S. Solicitor General D. John Sauer will face off against Paul Clement, advocating for Cook who argues her removal is politically charged.

With the Federal Reserve Act aimed at shielding the Fed from political sway, Judge Jia Cobb previously ruled Trump's move likely violated Cook's Fifth Amendment rights. Allegations driving Trump's actions had not been legally substantiated, emphasizing the trial's impact on Fed's policy-setting autonomy.

(With inputs from agencies.)