Trump sought in August to dismiss Fed governor Lisa Cook, a key official serving on the Fed's interest rate-setting committee, accusing her of mortgage fraud. The conservative-dominated Supreme Court barred Trump from immediately removing Cook, allowing her to remain in her post until it could hear the case contesting her dismissal. In a sign of the significance of the case and public support for Cook, Fed Chair Jerome Powell plans to personally attend Wednesday's Supreme Court hearing, a source familiar with the matter told AFP. The court recently allowed Trump to fire members of other independent government boards, but created a carveout for the Fed in its ruling. Cook took office as a Fed governor in 2022 and was reappointed to the board in 2023.

Source: Bangladesh Sangbad Sangstha January 21, 2026 10:00 UTC