Jerome Powell will attend Supreme Court hearing on Lisa Cook's firing

By Jeremy Binckes

Federal Reserve Chair Jerome Powell speaks during a press conference on Dec. 10. Powell plans to attend a Supreme Court hearing for another Fed member, governor Lisa Cook, this week.

Amid questions about the future of the Federal Reserve's independence, Chair Jerome Powell will be attending a key hearing centering around the future of another Fed member who has been in the crosshairs of the Turmp administration.

The Supreme Court will hear oral arguments Wednesday about Fed governor Lisa Cook, who President Donald Trump tried to fire in August. Her attempted dismissal, after accusations made by the administration that she committed mortgage fraud, was blocked by an Oct. 1 Supreme Court order allowing her to stay on the board until it could hear oral arguments.

It's a show of solidarity from the head of the central bank, who has also been targeted by the administration.

Background (October 2025): Supreme Court allows Lisa Cook to stay on at Fed, for now. What's next as Trump tries to fire her.

Earlier this month, the chair said that there was a criminal investigation against him. In a video, Powell said that the "threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president."

Opinion: Shocked by Trump's criminal probe into Jerome Powell? 5 things you need to know.

Trump has frequently complained that interest rates are too high, though voting members of the Federal Reserve have expressed caution that lowering rates too much could spur more inflation, which is already above the Fed's target goal of 2%.

Powell's term is set to end in May. Trump is expected to name his successor soon; according to prediction markets, Kevin Warsh is seen as the likely candidate to be nominated.

As noted by SCOTUSblog, a website tracking the high court, watchers of the Supreme Court's decisions have said that it has leaned toward preserving the Fed's independence.

-Jeremy Binckes

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01-19-26 1457ET