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Powell warns Lisa Cook's Supreme Court case could be most consequential legal threat in Fed’s history

On HALO

6 days ago

Federal Reserve Chair Jerome Powell warned Wednesday that a Supreme Court showdown over sitting Fed governor Lisa Cook could have far-reaching consequences for the central bank’s independence and the U.S. economy."I would say that that case is perhaps the most important legal case in the Fed's 113-year history. As I thought about it, it might have been hard to explain why I didn’t attend," Powell told reporters Wednesday at the Federal Reserve."Paul Volcker famously attended a Supreme Court case in, I guess, 1985 or so, so there is precedent," Powell said, referring to the former Federal Reser...