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Cook case could lead to 'cause' protections for Fed, or a roadmap for dismissals
The most consequential test of the Federal Reserve's independence in more than a century of existence comes before the U.S. Supreme Court this week, with the focus on whether the justices will shield the world's most important central bank from political influence, as Congress intended, or allow President Donald Trump to clean house as he sees fit. The case - revolving around Trump's attempt to fire Fed Governor Lisa Cook over alleged mortgage fraud - could in the extreme erode that cherished independence, but even short of that result could provide the first roadmap for how a president can remove someone from the ... (full story)
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