Fed Finally Gets Some Backup in Lonely Fight to Stave Off Trump

As the Federal Reserve fights for its independence in the face of a mounting assault from Donald Trump, it’s not been getting much help — at least until this week.

The Supreme Court bailed out the US central bank by allowing Governor Lisa Cook to keep her job — for now. Trump’s bid to fire her is the highest-stakes test so far of the Fed’s autonomy. And Wednesday’s order only represents a stopgap victory: The court will return to the case in a January hearing.

If the Fed needs a last line of defense, it’s because Trump’s pressure campaign ...