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Federal Reserve governor Lisa Cook speaks during an event in Miami, Fl. Photo: Joe Raedle/Getty Images
The Supreme Court ruled Monday that President Trump could not immediately remove Federal Reserve Gov. Lisa Cook, a blockbuster ruling that limits the president's influence on the central bank.
Why it matters: The decision is the highest court's strongest endorsement yet of Federal Reserve independence, making it harder for Trump and future administrations to reshape the central bank through presidential firings.
