Powell at SCOTUS as Trump Federal Reserve Clash Hits High Court

[00:00] Evelyn Hartwell: From Neural Newscast, I'm Evelyn Hartwell. [00:03] Frederick Moore: And I'm Frederick Moore. [00:05] Frederick Moore: Federal Reserve Chairman Jerome Powell will attend oral arguments at the Supreme Court this [00:10] Frederick Moore: Wednesday. [00:11] Frederick Moore: He plans to observe a case challenging President Trump's power to fire Fed Governor Lisa Cook. [00:18] Evelyn Hartwell: President Trump dismissed Cook in late August. [00:21] Evelyn Hartwell: He cited claims of mortgage fraud involving two homes she owns. [00:25] Evelyn Hartwell: Cook denies any wrongdoing and has not been charged with a crime. [00:29] Frederick Moore: This attendance is highly unusual. [00:32] Frederick Moore: It signals the gravity of the legal threat to central bank independence. [00:37] Frederick Moore: Powell himself is currently under investigation by the U.S. Attorney's Office in Washington. [00:43] Evelyn Hartwell: That probe involves a multi-billion dollar renovation of the central bank headquarters [00:48] Evelyn Hartwell: and Powell's previous congressional testimony. [00:51] Evelyn Hartwell: Powell calls the investigation a pretext for his refusal to lower interest rates. [00:56] Frederick Moore: The Department of Justice argues that lower court orders are an improper interference with executive power. [01:03] Frederick Moore: They claim the president has the authority to remove Federal Reserve Board members for cause. [01:09] Evelyn Hartwell: Powell countered this in a public statement released earlier this month. [01:13] Evelyn Hartwell: He stated that criminal threats are a consequence of setting rates based on data rather than politics. [01:19] Frederick Moore: In other news, President Trump is set to attend the World Economic Forum in Davos for the first time since 2020. [01:27] Frederick Moore: He is bringing the largest U.S. delegation in the history of the event. [01:33] Evelyn Hartwell: The delegation includes Secretary of State Marco Rubio and Treasury Secretary Scott Bassan. [01:39] Evelyn Hartwell: They arrive amidst a major diplomatic dispute between the United States and Denmark. [01:46] Frederick Moore: Danish representatives are skipping the summit after Trump announced new tariffs on European nations. [01:52] Frederick Moore: These tariffs specifically target countries resisting his attempt to purchase the island of Greenland. [02:01] Evelyn Hartwell: UK Prime Minister Kierre Starmmer has not confirmed his attendance after the latest tariff escalations. [02:07] Evelyn Hartwell: Starmmer held an emergency press conference this week to address the economic impact on Britain. [02:14] Frederick Moore: The World Economic Forum is also adjusting its leadership after the departure of founder Klaus Schwab. [02:21] Frederick Moore: Interim co-chairs from BlackRock and Roche are now steering the organization toward a renewed economic focus. [02:30] Evelyn Hartwell: Several other world leaders are also absent from the 2026 attendance list. [02:35] Evelyn Hartwell: Chinese President Xi Jinping and Indian Prime Minister Narendra Modi will not attend the forum this year. [02:41] Frederick Moore: Next, Microsoft is preparing to expand access to its cloud gaming service for players without a subscription. [02:48] Frederick Moore: New reports suggest the company will offer game streams supported by advertising. [02:54] Evelyn Hartwell: Currently, the service is limited to players who pay for a monthly Game Pass subscription. [02:59] Evelyn Hartwell: This shift would allow users to access premium titles in exchange for watching commercials. [03:06] Frederick Moore: Industry analysts see this as a way to diversify revenue while the gaming market faces slowing hardware sales. [03:13] Frederick Moore: Microsoft has not yet announced a specific launch date for the ad-supported tier. [03:17] Evelyn Hartwell: I'm Evelyn Hartwell. [03:19] Frederick Moore: And I'm Frederick Moore. [03:21] Frederick Moore: For more in these stories, visit our website. [03:24] Frederick Moore: Neural Newscast is AI-assisted, human-reviewed. [03:28] Frederick Moore: View our AI transparency policy at neuralnewscast.com.