A bipartisan group of former Treasury secretaries, Federal Reserve chairs and other experts urged the U.S. Supreme Court not to let President Donald Trump fire Fed Gov. Lisa Cook, arguing that the health of the economy is at stake.
Allowing Trump to oust Cook while she challenges her removal would erode the public’s trust in the Fed and undermine efforts to stabilize prices, increase employment and moderate long-term interest rates, the group said in a friend-of-the-court brief filed with the justices on Thursday.
"Doing so would expose the Federal Reserve to political influences, thereby eroding public confidence in the Fed’s independence and jeopardizing the credibility and efficacy of U.S. monetary policy,” the group, which includes former Fed chairs Ben Bernanke, Alan Greenspan and Janet Yellen, said in the filing.
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