00:00It's Benzinga bringing Wall Street to Main Street.
00:03The Supreme Court ruled Monday that Trump does not have the authority to fire Federal Reserve
00:07Governor Lisa Cook from the Central Bank for now, according to CNBC. The 5-4 ruling rejected
00:14Trump's bid to pause a lower court order that blocked Cook's removal while her lawsuit proceeds.
00:21Chief Justice John Roberts wrote that the Federal Reserve's independence and appearance of
00:25independence are central to its design. Roberts said Trump could try again to remove Cook over
00:31mortgage fraud allegations, but only after giving her due process, including evidence,
00:36a chance to respond, and a response deadline. Trump said the court sent the case back on
00:42procedural grounds and vowed further action. Cook denied wrongdoing and said the attempted
00:47firing was tied to political pressure over interest rates. For all things money, visit Benzinga.com.
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