The Supreme Court has said the Federal Reserve Board’s independence warrants protection. President Trump’s effort to fire a member will test that commitment.

President Trump told Lisa Cook that he had found sufficient cause “to remove you from your position.” Ms. Cook and her lawyer said they would fight the firing.

President Trump has said will fire Lisa Cook over alleged financial fraud, which could hand him more control of the Fed.

Trump is the first president to attempt to fire a Fed governor since Congress established the central bank in 1913, Evercore ISI said.

President Trump’s attempt to fire Lisa Cook, a Fed governor, will set off a long legal battle. Economists warn it could lead to higher inflation and government borrowing costs.

If the courts allow Trump to get away with firing Lisa Cook, the Fed will be stripped of its insulation from political pressure.

Federal Reserve Board Governor Lisa Cook hired Abbe Lowell to fight her termination by President Trump for a case that could land at the Supreme Court.

Lawyers for Ms. Cook promised to take legal action one day after the president moved to fire her over allegations of mortgage fraud.

If President Trump succeeds in replacing Lisa Cook, his nominees will make up a majority of the Federal Reserve’s seven-person board.

The Supreme Court has said the Federal Reserve Board’s independence warrants protection. President Trump’s effort to fire a member will test that commitment.

The Supreme Court is likely to resolve the question of whether President Trump had legal cause to remove the Federal Reserve Board member.

Lisa Cook, who has not been charged with a crime, sought to retain her position, arguing her firing was “unprecedented and illegal.”

President Trump’s effort to oust the Federal Reserve governor has kicked off a landmark legal battle, one that will have far-reaching consequences for the institution’s…

A court hearing could end with Fed Governor Lisa Cook remaining on the job while her lawsuit challenging her firing by President Donald Trump plays out.

Lawyers for the administration told a court it should be “highly deferential” to the president when it comes to firing a Federal Reserve governor “for cause.”