President Trump promised to “take appropriate action immediately” against Lisa Cook, the Fed governor he had tried to fire, even as the court affirmed that Fed officials can be fired only for cause.
The Trump administration’s attacks on the Federal Reserve have rattled confidence in the central bank’s ability to operate independently before a leadership transition.
As the justices weighed the consequences of allowing President Trump to fire a Federal Reserve official, the president reprised his pressure campaign on the central bank.
The blowback set off by the Justice Department’s criminal investigation into Jerome H. Powell, the chair of the central bank, has shaken up the race to replace him.
Anmelden
