The US Supreme Court appeared poised to let Federal Reserve Gov. Lisa Cook keep her job, following attempts by the White House to oust her.
In a case with major implications for US monetary policy and the economy, the justices appeared skeptical of President Donald Trump’s attempts to assert control over the central bank in his quest for lower interest rates.
The arguments came in the wake of the Trump’s administration’s criminal probe of Fed Chair Jerome Powell.
That investigation is separate from Cook’s case, but offers “a second potential data point” to bolster her argument that there is a “pattern of pretextual coercion,” The Wall Street Journal wrote.