Trump Power Over Fed Tested as Supreme Court Hears Cook Case

The US Supreme Court so far has helped shield the Federal Reserve from President Donald Trump’s efforts to seize control. An argument Wednesday will test just how committed the court is to the Fed’s independence.

The justices will weigh whether to let Trump fire Fed Governor Lisa Cook over mortgage-fraud allegations that she denies. The session, which started shortly after 10 a.m., will coincide with a Justice Department criminal investigation into Fed Chair Jerome Powell, a probe that has sparked bipartisan backlash.