Trump administration asks Supreme Court to allow firing of Fed Governor Lisa Cook

Legal & Regulatory Landscape - The Trump administration is seeking Supreme Court approval to proceed with the firing of Federal Reserve Governor Lisa Cook [1] - Lower courts (federal judge and appeals court) previously ruled against Trump's ability to fire Cook while her case is pending [1] - The administration argues that the lower court decisions disregard established precedents regarding removal, due process, and equities [2] - The administration believes it is likely to win the case on its merits [2] Federal Reserve & Supreme Court Dynamics - This legal challenge was anticipated by the administration [3] - The Supreme Court previously suggested the Federal Reserve is a "uniquely structured quasi private entity," implying potential for presidential influence [3][4] - The Supreme Court's ruling in this case will be closely watched [4]