Supreme Court schedules arguments on Trump's unprecedented attempt to fire Federal Reserve Governor Lisa Cook

The U.S. Supreme Court announced it will hear oral arguments on January 21, 2026, regarding President Trump's August 2025 attempt to remove Federal Reserve Governor Lisa Cook—the first-ever presidential bid to fire a Fed official. Trump moved to oust Cook over allegations of mortgage fraud, which Cook denies. The case challenges the Federal Reserve Act provisions that protect Board of Governors members from removal except 'for cause'—defined as willful misconduct, neglect of duty, or malfeasance in office. This represents a major constitutional battle over presidential power to remove heads of independent federal agencies and threatens the Federal Reserve's ability to conduct monetary policy free from political interference. Legal scholars have warned that allowing such removal would fundamentally undermine central bank independence, a cornerstone of economic stability. The case progressed through the D.C. Circuit Court of Appeals before reaching SCOTUS. Cook has remained in her pos...

"Trump claims Cook committed mortgage fraud before taking office, which Cook denies." — Trump's stated justification for the unprecedented removal attempt