"The US supreme court will hear oral arguments over Donald Trump's bid to fire a Federal Reserve governor on Wednesday morning, as his administration continues its extraordinary campaign for control over the central bank. The US president tried to fire Lisa Cook in August over apparent discrepancies on mortgage applications Trump's officials claim are evidence of fraud. Afederal court blocked Cook's removal, and she remains on the Fed's rate-setting board."
"The Department of Justice (DoJ) has been widely criticized this month for launching a criminal investigation into Jerome Powell, the US central bank's chairman. While it is pursuing Powell over renovations to the Fed's historic office buildings in Washington DC, he has argued he is being targeted for not following the preferences of the president. Powell plans to attend Wednesday's hearing at the supreme court in person, according to reports."
The US Supreme Court will hear oral arguments on President Trump's attempt to remove Federal Reserve governor Lisa Cook, after a federal court blocked her removal and she remains on the Fed's rate-setting board. Trump sought Cook's dismissal in August over alleged discrepancies on mortgage applications that administration officials say indicate fraud. The case will test the limits of presidential removal authority over independent agencies. The administration has clashed with the Fed over interest-rate policy, and the Department of Justice has opened a criminal inquiry into Chair Jerome Powell related to office renovations, which Powell contends is politically motivated.
Read at www.theguardian.com
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