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.”
(Reporting by Michael S. Derby; Editing by Chizu Nomiyama)