Story perspectives

Criticism of Powell for Supreme Court Appearance Sparks Fed Controversy

1/21/2026

Summary

Story summary

Treasury Secretary Scott Bessent criticized Federal Reserve Chair Jerome Powell for attending Supreme Court arguments about U.S. President Donald Trump's authority to remove Lisa Cook, Federal Reserve governor.
He argued Powell's attendance could politicize the Federal Reserve.
Cook has been a Federal Reserve governor since 2022 and faces a lawsuit from Trump alleging mortgage fraud, which she denies.
The Supreme Court ruled Cook could remain in her position during the lawsuit.

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Story summary

Treasury Secretary Scott Bessent criticized Federal Reserve Chair Jerome Powell for attending Supreme Court arguments about U.S. President Donald Trump's authority to remove Lisa Cook, Federal Reserve governor.
He argued Powell's attendance could politicize the Federal Reserve.
Cook has been a Federal Reserve governor since 2022 and faces a lawsuit from Trump alleging mortgage fraud, which she denies.
The Supreme Court ruled Cook could remain in her position during the lawsuit.