The Supreme Court is weighing an unprecedented legal question — whether a sitting president can remove a member of the Fed’s Board of Governors — with the outcome potentially allowing Trump to reshape the central bank’s governing majority and force deeper cuts to interest rates.
WASHINGTON — Federal Reserve Chair Jerome Powell plans to attend the Supreme Court’s oral argument Wednesday in the case over President Donald Trump’s attempted firing of Fed governor Lisa Cook, according to a person familiar with the matter who spoke on condition of anonymity.
The reported appearance would be a more public show of support for Cook than Powell has previously offered and follows his sharpening confrontation with the White House over the central bank’s independence.
The case before the court
The high court is weighing whether Trump can remove Cook — one of seven members of the Fed’s Board of Governors — after Trump said in late August he intended to do so. The attempt is without precedent: no president has previously sought to fire a sitting member of the Fed’s governing board.
Cook sued to keep her position. The Supreme Court on Oct. 1 issued a brief order allowing her to remain on the board while the case proceeds.
The Trump administration has accused Cook of mortgage fraud. Cook has denied the allegation. No charges have been filed against her.
Powell’s escalating posture
Powell — appointed to the chair position by Trump in 2018 — has moved away from last year’s more measured response to repeated White House pressure on the central bank.
Last week, Powell announced that the Trump administration had sent subpoenas to the Fed. On Jan. 11, he issued a video statement calling the subpoenas “pretexts” for Trump’s efforts to force him to sharply cut the Fed’s key interest rate.
Powell oversaw three rate cuts in late 2025, bringing the effective federal funds rate to 3.72%. Trump has argued the rate should be as low as 1%, a position few economists support.
What a Cook removal would mean
If Trump succeeds in removing Cook and appoints a replacement, his nominees would hold a majority on the Fed’s seven-member board, giving the administration greater influence over decisions on interest rates and bank regulation.