Federal Reserve Chairman Jerome Powell is set to attend oral arguments at the Supreme Court on Wednesday in a case involving President Donald Trump's attempt to fire Lisa Cook, a member of the central bank's Board of Governors. The move was confirmed by a source close to Powell on Monday, and comes as tensions between the Fed and the White House continue over interest rates.
Trump first moved to fire Cook in August following allegations she made misrepresentations on mortgage documents. However, lower courts let her continue serving on the Fed board while pursuing a legal challenge to her firing, and the Supreme Court subsequently agreed to take up the case. The high court also allowed Cook to remain in her role while it considered Trump's bid for emergency relief.
Cook has denied allegations of mortgage fraud related to bank documents for two properties, one in Atlanta and the other in Ann Arbor, Michigan. She has not been charged with any criminal offenses. Despite this, Powell's decision to attend oral arguments involving her removal comes after he announced that the Fed had received grand jury subpoenas from the Justice Department earlier this month stemming from a criminal investigation.
The subpoenas were related to Powell's June 2025 testimony before the Senate Banking Committee about a multi-year renovation of the Fed. Trump has attacked Powell, saying he is either "incompetent" or "crooked", while Powell has dismissed threats of criminal charges as "pretexts".
Powell will attend oral arguments on Wednesday, with his presence highlighting the ongoing tensions between the Fed and the White House over interest rates and Cook's removal from the board.
Trump first moved to fire Cook in August following allegations she made misrepresentations on mortgage documents. However, lower courts let her continue serving on the Fed board while pursuing a legal challenge to her firing, and the Supreme Court subsequently agreed to take up the case. The high court also allowed Cook to remain in her role while it considered Trump's bid for emergency relief.
Cook has denied allegations of mortgage fraud related to bank documents for two properties, one in Atlanta and the other in Ann Arbor, Michigan. She has not been charged with any criminal offenses. Despite this, Powell's decision to attend oral arguments involving her removal comes after he announced that the Fed had received grand jury subpoenas from the Justice Department earlier this month stemming from a criminal investigation.
The subpoenas were related to Powell's June 2025 testimony before the Senate Banking Committee about a multi-year renovation of the Fed. Trump has attacked Powell, saying he is either "incompetent" or "crooked", while Powell has dismissed threats of criminal charges as "pretexts".
Powell will attend oral arguments on Wednesday, with his presence highlighting the ongoing tensions between the Fed and the White House over interest rates and Cook's removal from the board.
so the fed chair is literally heading to the supreme court to defend lisa cook's seat lol what's up with trump trying to fire her? didn't he know she was all like "nah i'm good"? 
anyway i feel bad for cook tho, it's kinda stressful being at the center of a big mess. and poor powell gotta deal with trump's drama again... honestly, can't they just talk things out instead of taking it to court? 
. I think it's weird that Trump's still trying to fire Lisa Cook, considering she hasn't been charged with anything 
. The fact that Powell is going to be there though shows how serious things have gotten between the Fed and the White House 
. I mean, it's not like this is some kinda personal thing or anything... 
It's all so drama-filled 
.
Anyway, it's gonna be interesting to see how this whole thing plays out... and I'm sure Trump will find a way to make it all about him. Can't wait for the drama unfold! 
Is it just about scoring points for his next election or is there something more sinister at play? 
I hope Powell can get some justice & clarity out of this Supreme Court thing 
.
I thought we were done w/ Trump's drama in 2024... did we not learn from last time? 
Is it even possible for him to get in trouble over this or what? 
The more I hear about Jerome Powell trying to protect Lisa Cook, the more I think he's got a point 
. And now he's having to defend her at the Supreme Court? That takes some guts 
. The whole thing is so unprofessional, especially from Trump 
. Anyway, Powell's got my respect for standing up for her like that 
.
. I mean, I get that Trump's all over him and stuff, but Powell should be careful not to get sucked into this drama. It's one thing to stand up for Cook, but another to make it personal with the DOJ involved... that just seems like a recipe for disaster 
. I'm not sure what to make of it all, but one thing's for sure: interest rates are gonna be super interesting to watch in the coming months 
.