Supreme Court says Trump can't fire Fed governor Lisa Cook

In a ruling announced Monday, the Supreme Court said President Trump cannot fire Federal Reserve Governor Lisa Cook, protecting the central bank's independence from executive pressure. Cook, the first Black woman to serve on the Federal Reserve Board, was appointed to a fourteen-year term by former President Biden in 2022. Trump had sought her removal, citing mortgage fraud allegations from before she joined the Fed—allegations that lower courts have not validated. Chief Justice John Roberts emphasized that Fed governors serve lengthy, protected terms specifically to insulate the central bank from political influence, describing this arrangement as sanctioned by history. According to Axios, the ruling represents one of the bigger blows dealt to Trump's economic agenda.

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