Why the Trump v. Cook outcome will matter for Fed independence

• A large majority of Supreme Court justices appeared concerned about a president's ability to fire a Federal Reserve governor, signaling support for Fed independence.
• Justice Kavanaugh, a conservative, was noted as being 'pretty clear' on Lisa Cook's side, emphasizing the importance of Fed independence.
• The court's decision could either be a narrow ruling denying Trump's immediate request or a broader ruling providing deeper, long-term protection for Fed governors.

The discussion centers on the Supreme Court's hearing regarding former President Trump's attempt to fire Federal Reserve Board Governor Lisa Cook. Justices, including conservatives like Kavanaugh, expressed significant concern about presidential power over Fed officials, indicating a strong inclination to uphold the Fed's independence. The key question remains whether the ruling will be narrow or broad in protecting Fed governors.