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Fed's Cook says Supreme Court decision defends central bank's independence

Kitco Media
By Reuters
Published:
Updated:
Reuters
Fed's Cook says Supreme Court decision defends central bank's independence teaser image

June 29 (Reuters) - Federal Reserve Governor Lisa Cook said following a ​Supreme Court decision on Monday ‌that thwarted her attempted firing by President Donald Trump that ​the ruling defends central ​bank independence.

"The Supreme Court's decision ⁠to leave the lower ​court's order in place and ​affirm the need for real process and real cause recognizes that ​Federal Reserve independence is ​essential to fulfilling the congressional mandate ‌of ⁠price stability and maximum employment," Cook said in a statement. "I am grateful for ​this decision, ​not ⁠for my own sake, but for the ​sake of the American ​people, ⁠whose economic well-being depends on a central bank that ⁠answers ​to its mission, ​not political intimidation."

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Reporting by Michael S. ​Derby; Editing by Chizu Nomiyama

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