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Supreme Court Reviews Presidential Authority to Dismiss Federal Reserve Governor

The Supreme Court heard arguments on the legality of removing Fed Governor Lisa Cook. This unprecedented case tests the central bank's statutory independence.

Insights:
On January 21, 2026, the U.S. Supreme Court heard oral arguments in a historic case testing whether President Donald Trump donald trumphas the authority to fire Federal Reserve Governor Lisa Cook lisa cookwithout notice or a formal hearing. This legal battle represents the first-ever presidential attempt to remove a member of the central bank's governing board since the Federal Reserve was formed in 1913. The outcome carries significant weight for the statutory provisions meant to insulate the bank in the US USUSfrom political interference.
A general view of the U.S. Supreme Court is seen as justices may issue rulings on several major pending cases, including the legality of President Donald Trump's global tariffs, in Washington, D.C., U.S., January 20, 2026. REUTERS/Nathan Howard/File Photo
A general view of the U.S. Supreme Court is seen as justices may issue rulings on several major pending cases, including the legality of President Donald Trump's global tariffs, in Washington, D.C., U.S., January 20, 2026. REUTERS/Nathan Howard/File Photo
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