White House responds to Supreme Court allowing Fed's Lisa Cook to keep job for now

Federal Reserve & Supreme Court Decision - The Supreme Court allowed Lisa Cook to stay on the Federal Reserve Board [1] - The White House asserts it lawfully removed Lisa Cook from the Federal Reserve Board of Governors for cause [1][2] - Oral arguments before the Supreme Court are expected in January [1] - The Supreme Court decision on Lisa Cook could take months after oral arguments [4] - Lisa Cook has a 14-year term [5] Market Implications - The market might prefer continuity on the Federal Reserve Board [6] - The market might be happy with the outcome of Lisa Cook staying on the board in the short term [6] Legal & Political Considerations - The Supreme Court case raises questions about the President's authority and the independence of the Federal Reserve [3] - The case is a test of the Fed's independence from presidential political pressure [3]