The U.S. Supreme Court is hearing arguments on whether President Trump can fire Federal Reserve Governor Lisa Cook over allegations of mortgage fraud, which could impact interest rates and inflation. The DOJ served subpoenas to Fed Chair Jerome Powell over renovations to the Fed’s headquarters, sparking concerns of political interference. Trump’s push for lower interest rates has raised tensions, with fears of weakening the Fed’s independence. The outcome may give Trump more influence over the central bank’s decisions, potentially affecting the economy and financial markets. The case highlights the delicate balance between political pressure and the Fed’s autonomy.

Read more at Yahoo Finance: Federal Reserve independence at stake in Lisa Cook Supreme Court case