WASHINGTON (AP) — In an unusual show of support from the Fed chair, Federal Reserve Chairman Jerome Powell will appear before the Supreme Court on Wednesday for oral arguments in a case involving an attempt to fire Fed Governor Lisa Cook.
The high court is considering whether President Donald Trump can fire Cook, an unprecedented attempt by the White House to remove an official appointed by former President Joe Biden. Powell plans to attend Wednesday’s meeting, according to people familiar with the matter.
Trump first tried to fire Cook in late August, a contrast to the Fed chairman’s previous public support for Cook. But before that, Powell announced last week that the Trump administration had issued a subpoena to the Fed, threatening unprecedented criminal prosecution of the Fed chairman.
Powell issued a video statement on January 11, denouncing the subpoena as an “excuse” for Trump to force him to significantly lower the Fed’s key interest rate.
