Relief for Fed From Supreme Court’s Cook Order May Be Fleeting

The US Supreme Court’s refusal to allow President Donald Trump to immediately oust Federal Reserve Governor Lisa Cook has eased pressure on the central bank after months of searing criticism from the White House that threatened its independence.

Fed watchers caution that relief may be short lived.

Much will depend on Trump’s choice to replace Jerome Powell, whose term as Fed chair ends in May, and whether the White House pursues other avenues to exert its influence over policymakers. Trump’s appointment of Stephen Miran to the Fed’s board — while he takes unpaid leave from his White House role ...