Instant Reaction: Supreme Court Blocks Trump from Firing Fed's Lisa Cook | Balance of Power

The US Supreme Court ruled that Federal Reserve Governor Lisa Cook can stay in her job for now, reinforcing the central bank’s independence from the White House and dealing a setback to President Donald Trump. In a separate ruling, the court expanded the president’s power to fire top government officials at other federal agencies. Voting 5-4, the high court said Cook can remain at the Fed while she fights Trump’s bid to oust her over unproven mortgage fraud allegations. Chief Justice John Roberts and Justice Brett Kavanaugh joined the three liberals in the majority. Bloomberg's Paul Sweeney and Scarlet Fu got reaction from: June Grasso, Bloomberg Law Host Elliot Stein, Bloomberg Intelligence litigation analyst Tyler Kendall, Bloomberg Washington correspondent Gautam Mukunda, Lecturer at Yale School of Management and Bloomberg Opinion contributor See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information. Bloomberg Washington Correspondent Joe Mathieu delivers insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts Listen to more Sound On:    • Balance of Power (Audio)   #Bloomberg #Podcast #Politics Visit us: https://www.bloomberg.com/podcasts Follow Bloomberg Podcasts on Twitter:   / podcasts   Visit our other YouTube channels: Bloomberg Television:    / @markets   Bloomberg Originals:    / bloomberg   Quicktake:    / @bloombergquicktake   For coverage on news, markets and more: http://www.bloomberg.com/video