Powell to Attend Supreme Court Hearing on Cook Firing Case
Federal Reserve Chair Jerome Powell plans to attend Supreme Court arguments on Wednesday in a case tied to President Trump’s attempt to remove Fed Governor Lisa Cook. A source familiar with the matter confirmed Powell’s plans. The Associated Press first reported the development.
Background of the Dispute
President Trump moved to fire Cook in August. The action followed claims from a senior administration official that Cook misstated information on past mortgage documents. However, Cook challenged the move in court. As a result, lower courts allowed her to remain on the Federal Reserve Board while the case moved forward.
In October, the Supreme Court agreed to hear the case. At the same time, it allowed Cook to keep her position while justices reviewed the president’s request for emergency relief.
Cook Denies Allegations
Cook has denied all claims of mortgage fraud. The allegations relate to loan documents for two homes, one in Atlanta and another in Ann Arbor, Michigan. Importantly, authorities have not charged her with any crime.
Federal Reserve’s Position
The Federal Reserve has not taken a public stance on whether the president can remove Cook. In court filings, the central bank said it would comply with any ruling issued by the courts.
Still, Powell’s decision to attend the hearing comes amid growing tension. Earlier this month, he disclosed that the Fed received grand jury subpoenas from the Justice Department. These subpoenas relate to a criminal investigation tied to Powell’s June 2025 testimony before the Senate Banking Committee about a long-running renovation project at the Fed.
Trump and Powell Tensions
President Trump appointed Powell as Fed chair in 2018. Powell’s current term ends in May, although his seat on the Fed’s Board runs through early 2028.
Since then, however, Trump has repeatedly criticized Powell over interest rate policy. He has called the Fed chair “incompetent” and “crooked.” Powell, in contrast, said threats of criminal charges are politically motivated.
Powell Responds to Criminal Threats
In a video message last week, Powell rejected claims tied to his Senate testimony and the renovation project. He said the Fed fully informed Congress through testimony and public disclosures.
According to Powell, the real issue is monetary policy. He said the threats stem from the Fed setting interest rates based on economic data, not presidential pressure.
