On Wednesday, the Supreme Court gears up to hear arguments in a crucial case over the independence of the Federal Reserve, Trump v. Cook. But it won’t even be the first make-or-break moment the country’s main economic institution has had in the past few weeks.
President Donald Trump’s effort to seize control of the Federal Reserve and its power to set interest rates escalated last Sunday when Fed Chair Jerome Powell announced that he had been served “grand jury subpoenas” and threatened with “criminal indictment” related to cost overruns for the central bank’s building restoration project.
Powell immediately pushed back. The DOJ’s claim that he had lied in congressional testimony about the project was a mere “pretext” that needed to be seen “in the broader context of the administration’s threats and ongoing pressure,” Powell said.
“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President,” Powell said.
Political Glance
Donald Trump threatened to sue JPMorgan Chase on Saturday, citing an unsubstantiated allegation that major banks discriminated against him after the 6 January 2021 Capitol riot.
The Rev. Martin Luther King Jr. changed America for the better by helping our nation make progress toward achieving his dream of ending racism and ensuring equality for all. But as we honor King with a national holiday, President Trump is doing all he can to reverse the great civil rights leader’s historic accomplishments.
The Trump administration on Thursday was dealt its first legal setback in its unprecedented effort to consolidate voter data traditionally held by states.





























