“The Trump administration on Thursday asked the Supreme Court to allow the president to remove Lisa Cook as a Federal Reserve governor, setting up a key test of presidential power with potentially huge economic consequences,” the New York Times reports.
“The court’s conservative majority has repeatedly allowed Mr. Trump to at least provisionally fire leaders of other agencies without stating a reason, despite statutes passed by Congress designed to ensure political independence. The justices, however, have suggested that the Fed may be uniquely insulated from presidential meddling under the law.”