Cook Stays at Fed But Trump Wins Power Over Other Agencies

Insight & analysis on the White House and Capitol Hill.

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A closely divided US Supreme Court reinforced the Federal Reserve’s independence from the White House, protecting governors from being fired by the president without proof of wrongdoing.

The Fed shield came even as the court in a separate ruling Monday expanded the president’s power to fire top government officials at other federal agencies in a blockbuster ruling that overturns a 91-year-old precedent.

Voting 5-4, the high court said Fed Governor Lisa Cook can stay in her job while she fights Trump’s bid to oust her over unproven mortgage fraud allegations. Writing for the majority, Chief Justice John Roberts pointed to what he said was a long tradition of keeping the Fed’s exercise of monetary policy independent from the White House.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg Washington Correspondent Tyler Kendall.
• Former Acting White House Chief of Staff Mick Mulvaney.
• Stonecourt Capital Partner Rick Davis and Hicks Evaluation Group CEO Fredrick Hicks.
• Constitutional Accountability Center President Elizabeth Wydra.
• Bloomberg International Economics and Policy Correspondent Michael McKee.
• Republican Congresswoman Nicole Malliotakis of New York.

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