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MAJOR QUESTIONS

The Fed-firing case in three steps

By Adam White on January 19, 2026

Major Questions is a recurring series by Adam White, which analyzes the court’s approach to administrative law, agencies, and the lower courts.

Like the still-pending tariffs case, Wednesday’s oral arguments in Trump v. Cook will attract attention far beyond the usual court-watchers. The president’s attempt to fire a Federal Reserve governor raises enormous questions for global markets and American law – all the more so after the latest news of a Justice Department investigation of Fed Chairman Jerome Powell, and Powell’s denunciation of it. When the justices gather to hear oral arguments, the world will be watching.

But what, exactly, will we be watching?

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