US EditionPublished • loading... • Updated
US Supreme Court considers Trump's bid to fire Fed's Lisa Cook
The Supreme Court considers if Trump can remove Fed Governor Lisa Cook over unproven mortgage fraud claims, a decision that could impact central bank independence and presidential firing powers.
- On Monday, federal prosecutors opened a criminal investigation into Federal Reserve Chair Jerome Powell, Bloomberg reported after subpoenas to the central bank.
- Pressure from Donald Trump, former president, and disputes over Jerome Powell's interest-rate policy helped prompt the Justice Department's probe, with observers dismissing cost-overrun claims as nonsense.
- FHFA director Bill Pulte denied knowing about the probe but previously referred a mortgage-fraud case involving Fed governor Lisa Cook to the Justice Department and has clashed with the Federal Reserve.
- Markets showed limited reaction, with stocks up and the dollar down modestly as U.S. stock indexes rose on Monday despite the probe news.
- Threatening legal action against a Fed chair raises unprecedented institutional risks as economists warn a Fed subordinate to presidential whims could undermine central-bank independence and fuel inflation.
Insights by Ground AI
Podcasts & Opinions
107 Articles
107 Articles
Supreme Court appears wary of Trump bid to fire Fed’s Cook
US Supreme Court justices suggested they are wary of President Donald Trump’s effort to fire Federal Reserve Governor Lisa Cook over unproven mortgage-fraud allegations, saying the move could upend the Fed’s independence and rattle markets.
·New Hampshire, United States
Read Full Article
Supreme Court seems inclined to keep Lisa Cook on Fed board despite Trump attempt to fire her
The Supreme Court seems inclined to keep Federal Reserve governor Lisa Cook in her job, casting doubt on Trump’s bid to wrest control of the nation’s central bank. The justices heard arguments over Trump’s effort to fire Cook based on allegations she committed mortgage fraud, which she denies.
Coverage Details
Total News Sources107
Leaning Left20Leaning Right16Center44Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 25%
C 55%
R 20%
Factuality
To view factuality data please Upgrade to Premium
