Summary
President Donald Trump is trying to remove Federal Reserve board member Lisa Cook. The Supreme Court is holding a hearing to discuss this case.
Key Facts
- President Trump is attempting to remove Lisa Cook from the Federal Reserve board.
- The Supreme Court is reviewing this case in a hearing.
- Lisa Cook is accused of mortgage fraud, which she denies.
- No sitting Fed governor has been fired in the agency's 112-year history.
- Some people think Trump wants to influence interest rate policy by removing Cook.
- Lower interest rates would make borrowing cheaper for the government and consumers.
- The hearing is scheduled to occur on Wednesday at 10 a.m. EST.
