US Fed Chair Powell to attend Supreme Court session on Cook case: Report

"United States Federal Reserve Chair Jerome Powell will attend the Supreme Court's oral argument in a case involving the attempted firing of Fed governor Lisa Cook, an unusual show of support by the central bank chair. The high court is considering whether US President Donald Trump can fire Cook, as he said he would do in late August, in an unprecedented attempt to remove one of the seven members of the Fed's governing board."

"Powell plans to attend the high court's Wednesday session, according to a person familiar with the matter, who spoke on condition of anonymity. It is a much more public show of support than the Fed chair has previously shown Cook. But it follows Powell's announcement last week that the Trump administration has sent subpoenas to the Fed, threatening an unprecedented criminal indictment of the Fed chair."

"The Trump administration has accused Cook of mortgage fraud, an allegation that Cook has denied. No charges have been made against Cook. She sued to keep her job, and the Supreme Court on October 1 issued a brief order allowing her to stay on the board while they consider her case. If Trump succeeds in removing Cook, he could appoint another person to fill her slot, which would give his appointees a majority on the Fed's board and greater influence over the central bank's deci"

Jerome Powell will attend the Supreme Court oral argument over President Donald Trump's attempt to remove Fed governor Lisa Cook, marking an unusually public show of support. The Court is deciding whether Trump can fire Cook after he threatened to do so in August. The administration has accused Cook of mortgage fraud, which she denies; she sued and the Court allowed her to stay on the board pending the case. The administration has subpoenaed the Fed and threatened a criminal indictment of Powell; Powell condemned the subpoenas as pretexts to force sharp interest-rate cuts. If Cook is removed, Trump could appoint a successor and shift the Fed board's balance.

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