Supreme Court says Fed governor Lisa Cook can remain on board until January hearing

Federal Reserve & Lisa Cook Case - The Supreme Court will hear arguments in January 2026 regarding the case involving Fed Governor Lisa Cook and allegations of mortgage fraud [1][3] - Lisa Cook will remain on the Federal Reserve Board until the Supreme Court arguments in January 2026, pending the case outcome [3] - The Trump administration's attempt to immediately remove Lisa Cook from the Federal Reserve Board has been deferred [2][3] - The Supreme Court is the final court of appeal in this case [5] - Investigation into the fraud allegations will continue, potentially leading to leaks that could be embarrassing for either side [6][7] Federal Reserve Implications & Policy - Lisa Cook's continued presence on the Fed ensures stability through the October and December meetings [9] - The Federal Reserve Board will vote to reappoint presidents in February or March, requiring a majority vote for changes [10] - The market anticipates the Fed will prioritize jobs more than inflation, potentially leading to rate cuts [16] - The market is pricing in a potential October cut and a December cut, with a third cut being considered in January or March [15] Economic Indicators - ADP's job numbers, when averaged over three months or one year and compared to BLS data, can be a better indicator [13] - According to ADP, the jobs report is in negative territory [15]