supreme court cook federal reserve powell.

The Supreme Court seems inclined to keep Federal Reserve governor Lisa Cook in her job, casting doubt on President Donald Trump’s bid to wrest control of the nation’s central bank. The justices heard arguments Wednesday over Trump’s effort to fire Cook based on allegations she committed mortgage fraud, which she denies. No president has fired a sitting governor in the 112-year history of the Fed, which was structured to be independent of day-to-day politics. The true motivation for trying to fire Cook, Trump’s critics say, is the Republican president’s desire to exert control over U.S. interest rate policy. Conservative and liberal justices voiced skepticism over Cook’s firing.