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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.

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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.

Trump announced the potential lawsuit in a post on social media, tying the threat to his criticism of a recent Wall Street Journal article that reported he had offered the JPMorgan Chase CEO, Jamie Dimon, the position of US Federal Reserve chair. Trump insists the report is inaccurate and says no such offer was ever made.

The president also reiterated his claim that JPMorgan Chase – the largest US bank – improperly cut off his banking access after the January 6 Capitol attack, without providing evidence. He also did not provide evidence for his often-repeated false claim that the 2020 presidential election was rigged against him.

“I’ll be suing JPMorgan Chase over the next two weeks for incorrectly and inappropriately DEBANKING me after the January 6th Protest, a protest that turned out to be correct for those doing the protesting – The Election was RIGGED!” he wrote.

Trump has alleged that several banks, including JPMorgan Chase and Bank of America, refused to accept his deposits following the events of 6 January 2021. Both institutions have strongly rejected those accusations.

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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. 

Unfortunately, King’s dream, which he eloquently expressed in his speech at the March on Washington for Jobs and Freedom in 1963, has yet to come true. Systemic racism has been diminished but still exists. Black Americans are suffering unjustly as a result.

For example, according to federal statistics, about 20 percent of Black households lived in poverty in 2024, compared with about 9 percent of white households. The median Black household annual income was about $56,000 in 2024, compared with about $88,000 for white households. The Black unemployment rate in November was 8.3 percent, compared with 3.9 percent for whites.

Yet instead of trying to narrow the gaps separating Black and white Americans, as King advocated, Trump is focused on eliminating supposed discrimination against white people — especially white men.

Trump issued three executive orders at the start of his second term declaring diversity, equity and inclusion programs to be “illegal and immoral discrimination.” This ended such programs in the federal government and successfully pressured many businesses, nonprofits and colleges to scale them back or end them.

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A federal judge ordered the reinstatement of a former Ohio State University student expelled for posting social media videos criticizing Israel’s military actions in Gaza.

The university first suspended Guy Christensen, an undergraduate student and social media influencer, in May after he posted pro-Palestinian videos, according to the federal court ruling.

Christensen sued in September, claiming Ohio State violated his First Amendment free speech rights and 14th amendment right to due process.

In a letter, the university told Christensen he was suspended “temporarily and immediately, from university premises and property as well from participation in all university activities, whether on or off campus property,” according to the court ruling.

The student’s presence on campus presence poses a “significant risk of substantial harm to the safety or security of yourself, others, or to property,” the letter stated.

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Minnesota Gov. Tim Walz and Minneapolis Mayor Jacob Frey in connection with a suspected conspiracy to impede federal immigration enforcement in the state, according to reports by Reuters and The Washington Post.

The investigation comes amid a growing feud between Minnesota’s Democratic leaders and President Donald Trump. The Department of Homeland Security has sent thousands of officers to the state in what it’s calling its "largest immigration operation ever" in order to combat fraud in social welfare programs officials say is linked to Somali immigrants.

Walz and Frey have called for immigration authorities to leave the state, especially after the fatal shooting of Renee Nicole Macklin Good by an Immigration and Customs Enforcement officer.

In a statement, Walz blasted the administration for the reported investigation.

"Two days ago it was Elissa Slotkin. Last week it was Jerome Powell. Before that, Mark Kelly. Weaponizing the justice system against your opponents is an authoritarian tactic," the former candidate for vice president said. "The only person not being investigated for the shooting of Renee Good is the federal agent who shot her."

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The Trump administration on Thursday was dealt its first legal setback in its unprecedented effort to consolidate voter data traditionally held by states.

Federal district Judge David O. Carter dismissed a lawsuit in California that sought to give the Justice Department access to that state's unredacted voter file, which includes sensitive data like Social Security numbers and driver's license data. A district judge in Oregon also said in court Wednesday that he was tentatively planning to do the same there.

California and Oregon are two of 23 states, along with Washington, D.C., that have been sued by the Department of Justice for rebuffing requests for voter data. All states are led by Democrats, or were lost by President Trump in the 2020 election.

The DOJ has argued that it needs unfettered access to the state voter lists to determine whether states are maintaining their voter lists in accordance with federal law. State officials from both major political parties, however, have noted that the federal government has never had access to this data before, and expressed worries about what else the federal government could use the data for.

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