The Supreme Court has blocked for now President Trump's unprecedented attempt to fire a member of the Federal Reserve Board of Governors, Lisa Cook.
The Federal Reserve held interest rates steady on Wednesday, as the central bank grapples with a combination of elevated inflation and sluggish hiring.
The Supreme Court seemed inclined to keep Federal Reserve governor Lisa Cook in her job, casting doubt on President Trump's bid to wrest control of the nation's central bank.
Stocks closed higher on Monday, shrugging off a dip earlier in the day after reports that the Department of Justice had opened a criminal investigation into Federal Reserve Chair Jerome Powell.
The Department of Justice's threat to criminally indict Federal Reserve Chair Jerome Powell has set up a tense showdown between the White House and the U.S. central bank.
The Federal Reserve cut its benchmark interest rate a quarter of a percentage point on Wednesday,