Supreme Court Weighs in on Fed Governor Lisa Cook's Dismissal Case

The U.S. Supreme Court is deliberating President Trump's attempt to dismiss Federal Reserve Governor Lisa Cook, with significant implications for the central bank's independence. The justices expressed skepticism about the firing without due process, considering political influence on fiscal policies and the potential impact on the U.S. economy.

In a pivotal case testing the boundaries of presidential power, the U.S. Supreme Court is scrutinizing President Donald Trump's attempt to oust Federal Reserve Governor Lisa Cook. Both conservative and liberal justices appeared skeptical of the administration's justification for removing Cook without due process amidst allegations of mortgage fraud.

The Court's decision, anticipated in June, could significantly affect the Federal Reserve's autonomy. The move against Cook, described as a pretext by her attorney, is seen as an unprecedented challenge to the Fed's independence, sparking concerns about political pressure influencing monetary policy.

During proceedings, justices grilled Solicitor General D. John Sauer over the administration's expedited dismissal approach. The case raises critical questions about President Trump's claimed powers, as the judiciary contemplates both potential economic repercussions and the enduring principle of agency independence.

(With inputs from agencies.)