The battle between Fed Governor Cook and President Trump has been settled...for now.
Issuing its ruling this morning, the Supreme Court rejected President Trump's attempt to fire the Fed's Lisa Cook—though the opinion does not prevent Trump from taking future action against the Fed Governor.
The 5-4 ruling closes the book—for the immediate future—on Trump and FHFA Director Bill Pulte's 9-month battle to remove Cook over allegations of mortgage fraud.
Responding to the ruling, President Trump vowed on Truth Social to continue pursuing Cook's removal, while, Pulte, in a post on X, shared the same sentiment.
Chief Justice John Roberts, who wrote the opinion for the majority, emphasized that Congress designed the Federal Reserve to operate independently, reasoning that to accept Trump's argument "would allow the President to remove a member of the Federal Reserve at any time, for any reason, without any notice before, and without any judicial check after."
📸 : Getty
The battle between Fed Governor Cook and President Trump has been settled...for now.
Issuing its ruling this morning, the Supreme Court rejected President Trump's attempt to fire the Fed's Lisa Cook—though the opinion does not prevent Trump from taking future action against the Fed Governor.
The 5-4 ruling closes the book—for the immediate future—on Trump and FHFA Director Bill Pulte's 9-month battle to remove Cook over allegations of mortgage fraud.
Responding to the ruling, President Trump vowed on Truth Social to continue pursuing Cook's removal, while, Pulte, in a post on X, shared the same sentiment.
Chief Justice John Roberts, who wrote the opinion for the majority, emphasized that Congress designed the Federal Reserve to operate independently, reasoning that to accept Trump's argument "would allow the President to remove a member of the Federal Reserve at any time, for any reason, without any notice before, and without any judicial check after."
📸 : Getty
