Set for January 21! The U.S. Supreme Court will hear arguments in the case of Federal Reserve Governor Cook.

Set for January 21! The U.S. Supreme Court will hear arguments in the case of Federal Reserve Governor Cook.

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U.S. President Donald Trump's legal battle to remove Federal Reserve Board member Lisa Cook is about to enter a critical stage.

According to the latest schedule, the U.S. Supreme Court will hold oral arguments on January 21 in the case concerning President Trump’s dismissal of Fed Board member Cook, which is a key contest over central bank independence.

The current focus before the Supreme Court is whether Trump has the authority to dismiss Cook even though the legal basis for her removal has not been fully clarified. The case is docketed in the Supreme Court as Trump v. Cook, 25A312.

Since late August this year, the economist has remained in her position. At that time, Trump said he intended to remove her due to alleged loan fraud, but Cook has denied the allegations.

Previously, U.S. courts stated the case would be heard within a two-week trial period in January. Notably, the justices scheduled oral arguments for the final day of that period, which might suggest the Court is not in a hurry to handle the matter.

In addition, the U.S. Supreme Court will also hear another case in December which may impact the result of the Cook case.

This December, the Supreme Court plans to hear a case involving the Federal Trade Commission (FTC). In this case, the justices will consider whether to overturn a 1935 ruling.

That ruling previously established that Congress can protect the leaders of independent agencies from presidential dismissal unless there is misconduct.

If the Supreme Court overturns this decades-old precedent, it may strengthen the president’s authority to remove the heads of independent agencies, and directly affect the trajectory of Cook’s case.

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