Trump vs. Cook heads to SCOTUS | Reporter Replay - video Dailymotion

Watch Trump vs. Cook heads to SCOTUS | Reporter Replay - New York Post on Dailymotion

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00:00The Supreme Court has taken on another massive case involving the Trump administration.

00:05This one involving the embattled Federal Reserve Board Governor Lisa Cook.

00:09Now Trump originally tried to fire Cook in August after Federal Housing Regulator Bill Pulte

00:16claimed to have revealed information that Cook wrongly claimed a condo in Atlanta

00:22and a residence in Michigan as her primary homes in order to get better loan terms.

00:28Trump argued that this revelation meant that Cook was unable to effectively serve on the nation's central bank.

00:37Cook disagreed and sued to keep her job.

00:41At issue is the Federal Reserve Act of 1913, which states that Federal Reserve governors can be fired for cause

00:47but doesn't make clear what actions might constitute cause.

00:51In statutes that have created other agencies, the law has made clear that cause can only apply to

00:57actions committed while in office.

01:00And that's what a pair of lower courts decided applied to Cook as well.

01:04But the Trump administration disagreed, arguing that it could fire Cook even for actions that took place

01:09outside of her time on the Federal Reserve.

01:14Now the Trump administration has had a good record so far at the Supreme Court,

01:18which starts its next term on Monday.

01:20But this will be a very tough case because the justices are hesitant to make such a drastic action

01:27as giving the president the green light to fire a central bank member.

01:31What I expect to happen is that the Supreme Court will keep Cook in place for now

01:36and ask Congress to write legislation clarifying what cause might mean when it comes to dismissing

01:42a member of one of America's most important institutions.

01:45This case also adds to a jam-packed docket when the court comes back next week.

01:50They're also hearing cases challenging President Trump's ability to use emergency authority to set tariffs

01:56and the constitutionality of state laws that bar transgender women and girls from playing on female sports teams.