"The Supreme Court appeared skeptical Wednesday of President Trump's attempt to fire a member of the Federal Reserve Board of Governors, an authority that most experts say would imperil the independence of the world's pre-eminent central bank. At issue before the justices in the case involving Lisa Cook, a Fed governor, is whether, as the Trump administration argued, that once a president has determined he has cause to fire a Fed board member, that decision in not reviewable by any court."
"The administration claims that Cook falsified documents to obtain loans on two different properties she listed as her primary residences. Her lawyers say she listed one of the properties as a vacation home. The accusations against her were lodged initially by Bill Pulte, Trump's head of the Federal Housing Finance Agency. Cook denies wrongdoing. Her lawyers, in court papers, point to recent reporting that four of Trump's Cabinet members, plus his deputy attorney general, and even Pulte's own relatives have recently made applications for multiple mortgages similar to Cook's, without any suggestion of wrongdoing."
The Supreme Court considered whether a president may remove a Federal Reserve governor for cause without judicial review, centering on Lisa Cook. The administration alleges Cook falsified documents to secure loans on two properties she listed as primary residences; her lawyers say one was a vacation home and she denies wrongdoing. The accusations were lodged by Bill Pulte of the Federal Housing Finance Agency. Cook's lawyers cite reporting that several high-level officials and Pulte's relatives made similar mortgage applications without allegation of misconduct. The court noted past decisions allowing removals of agency leaders but suggested the Fed's uniquely structured, quasi-private character may be different.
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