Federal Reserve Chair Jerome Powell said Wednesday that he attended the Supreme Court arguments over President Trump's effort to fire Fed Governor Lisa Cook because it was the "most important legal case in the Fed's 113-year history." "As I thought about it, I thought it might be hard to explain why I didn't attend," he told reporters, noting that former Fed Chair Paul Volcker also appeared at the Supreme Court in the 1980s. Justices are weighing whether the president can legally fire Ms. Cook after alleging she committed "mortgage fraud." The case carries major implications for the independence of the central bank as critics say the firing was an attempt to influence policy. Mr. Powel
Federal Reserve Chair Jerome Powell said Wednesday that he attended the Supreme Court arguments over President Trump's effort to fire Fed Governor Lisa Cook because it was the "most important legal case in the Fed's 113-year history." "As I thought about it, I thought it might be hard to explain why I didn't attend," he told reporters, noting that former Fed Chair Paul Volcker also appeared at the Supreme Court in the 1980s. Justices are weighing whether the president can legally fire Ms. Cook after alleging she committed "mortgage fraud." The case carries major implications for the independence of the central bank as critics say the firing was an attempt to influence policy. Mr. Powell also declined to comment on the Justice Department's decision to open a criminal investigation into him over the renovation of the central bank's headquarters. The existence of the investigation was disclosed earlier this month by Mr. Powell himself, when he released a rare video message casting the probe as part of a Trump administration pressure campaign aimed at pushing him to further lower interest rates. He also declined to say whether he plans to remain at the Federal Reserve when his term as chair expires in May. #jeromepowell #supremecourt #cspan ♬ original sound - C-SPAN
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