Fed chair Jerome Powell to attend Supreme Court arguments in Lisa Cook case

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Federal Reserve Chair Jerome Powell plans to attend Supreme Court oral arguments on Wednesday regarding President Donald Trump's attempt to remove Fed Governor Lisa Cook from her position. Trump moved to fire Cook in August following allegations of mortgage fraud raised by a senior administration official.

Federal Reserve Chair Jerome Powell plans to attend Supreme Court oral arguments on Wednesday regarding President Donald Trump's attempt to remove Fed Governor Lisa Cook from her position. Trump moved to fire Cook in August following allegations of mortgage fraud raised by a senior administration official.

The Supreme Court allowed Cook to remain in her role on the Fed Board while it considers the case. Cook has denied allegations of mortgage fraud related to bank documents for two properties in Atlanta and Ann Arbor, Michigan, and has not been charged with any criminal offenses.

The Supreme Court allowed Cook to remain in her role on the Fed Board while it considers the case. Cook has denied allegations of mortgage fraud related to bank documents for two properties in Atlanta and Ann Arbor, Michigan, and has not been charged with any criminal offenses.

Powell's planned attendance follows his announcement that the Justice Department served the Federal Reserve with grand jury subpoenas earlier this month. The subpoenas focus on a $2.5 billion renovation of Fed buildings and Powell's June testimony to the Senate Banking Committee about the project.

Powell's planned attendance follows his announcement that the Justice Department served the Federal Reserve with grand jury subpoenas earlier this month. The subpoenas focus on a $2.5 billion renovation of Fed buildings and Powell's June testimony to the Senate Banking Committee about the project.

Powell said the threatened indictment was related to his June testimony about the renovations but argued those are pretexts. He stated the threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on its assessment rather than following presidential preferences.

Powell said the threatened indictment was related to his June testimony about the renovations but argued those are pretexts. He stated the threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on its assessment rather than following presidential preferences.

Treasury Secretary Scott Bessent criticized Powell's decision to attend the Supreme Court hearing, stating it was a mistake because it risks politicizing the Fed. Bessent said that for the Fed chair to be sitting there trying to put his thumb on the scale is a real mistake.

Treasury Secretary Scott Bessent criticized Powell's decision to attend the Supreme Court hearing, stating it was a mistake because it risks politicizing the Fed. Bessent said that for the Fed chair to be sitting there trying to put his thumb on the scale is a real mistake.

The Federal Reserve Act restricts presidents from removing governors unless there is evidence of wrongdoing. Cook's term as Fed governor is set to end in January 2038, and her lawyer stated Trump has no authority to remove her based solely on a referral letter.

The Federal Reserve Act restricts presidents from removing governors unless there is evidence of wrongdoing. Cook's term as Fed governor is set to end in January 2038, and her lawyer stated Trump has no authority to remove her based solely on a referral letter.

Report: Powell to Attend Supreme Court Hearing on Cook Removal

Report: Powell to Attend Supreme Court Hearing on Cook Removal

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Report: Powell to Attend Supreme Court Hearing on Cook Removal

Report: Powell to Attend Supreme Court Hearing on Cook Removal

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