High Court Hears Arguments On President’s Control Of Federal Reserve Seat

( January 21, 2026, 4:27 PM EST) -- WASHINGTON, D.C. — The solicitor general told the U.S. Supreme Court on Jan. 21 that the justices should stay a preliminary injunction that reinstated Federal Reserve Gov. Lisa D. Cook after she was purportedly removed by President Donald J. Trump in August via a social media post as the removal was proper since it was due to “deceit[ful]” or “gross[ly] negligen[t]” mortgage applications Cook submitted in 2021, prior to her being nominated to that post, and that the Federal Reserve has been given over the years what “is clearly quintessential executive power.”...