Justices on the Supreme Court appear poised to reject President Trump’s effort to oust Federal Reserve Governor Lisa Cook, the first Black woman to serve on the board. During more than two hours of arguments, justices repeatedly questioned Trump’s authority to unilaterally remove her. Federal Reserve Chair Jerome Powell attended the hearing, defying a warning from Treasury Secretary Scott Bessent not to attend. Trump has repeatedly threatened to fire Powell, as well. Earlier this month, the Department of Justice launched a criminal probe of Powell.
California Democratic Congesswoman Maxine Waters spoke outside the court on Wednesday.
Rep. Maxine Waters: “I hope that the Supreme Court considers the facts and arguments in today’s hearings and sends a clear message to Trump that this country is governed by laws, not by one man’s fragile ego. The Fed does not belong to Donald Trump. It belongs to the American people.”