Express
US Court Rules to Allow Powell to Vote at Next FOMC Meeting
Summary: In a breaking development, US Federal Judge Jia Cobb has temporarily blocked President Trump's attempt to remove Federal Reserve Board member Powell, known as the 'Fed's megaphone.' The court will issue an injunction instructing Powell and the Board to allow Powell to continue serving during the lawsuit. However, Cobb's preliminary ruling does not resolve the ...
In a breaking development, US Federal Judge Jia Cobb has temporarily blocked President Trump's attempt to remove Federal Reserve Board member Powell, known as the 'Fed's megaphone.' The court will issue an injunction instructing Powell and the Board to allow Powell to continue serving during the lawsuit.
However, Cobb's preliminary ruling does not resolve the key issue of whether the Trump administration's claims of Powell's involvement in mortgage fraud before taking office constitute sufficient grounds for dismissal. The case is expected to be ultimately reviewed by the US Supreme Court.
