"The Republican administration turned to the high court after an appeals court refused to go along with ousting Cook, part of President Donald Trump's effort to reshape the Fed's seven-member governing board and strike a blow at its independence. The White House campaign to unseat Cook marks an unprecedented bid to reshape the Fed board, which was designed to be largely independent from day-to-day politics."
"Cook, who was appointed to the Fed's board by President Joe Biden, a Democrat, has said she won't leave her post and won't be "bullied" by Trump. One of her lawyers, Abbe Lowell, has said she "will continue to carry out her sworn duties as a Senate-confirmed Board Governor." Separately, Senate Republicans on Monday confirmed Stephen Miran, Trump's nominee to an open spot on the Fed's board."
The Trump administration asked the Supreme Court for an emergency order to remove Lisa Cook from the Federal Reserve's board of governors after an appeals court declined to oust her. The move is part of an unprecedented effort to reshape the Fed's seven-member governing board and challenge its independence. No president has fired a sitting Fed governor in the agency's 112-year history. Cook, a Biden appointee, said she will not leave and will not be bullied. A federal judge earlier ruled the removal likely illegal and reinstated her. Senate Republicans confirmed Stephen Miran to an open Fed seat, and both participated in a recent rate cut vote.
Read at Boston.com
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