Federal Reserve Chair Powell to Attend Director Cook's Hearing at Supreme Court

BlockBeats News, January 20th, According to the Associated Press, Federal Reserve Chair Jerome Powell is set to appear on Wednesday at the Supreme Court for oral arguments in a case involving an attempt to dismiss Fed Governor Lael Brainard, marking a rare public show of support by the central bank chief.

The Supreme Court will consider whether President Donald Trump has the authority to dismiss Brainard, marking the White House's first attempt to remove an official appointed by former President Joe Biden. Powell is said to be planning to attend Wednesday's hearing. Compared to his previous support for Brainard (whom Trump first attempted to dismiss at the end of August last year), this public endorsement is notably stronger. Powell's statement follows his remarks last week, where he noted that the Trump administration had subpoenaed the Fed and unprecedentedly threatened criminal charges against the Fed Chair. In a video statement released on January 11th, Powell condemned these subpoenas as an "excuse" by Trump to pressure him into significantly lowering the Fed's key interest rates.