Well, in breaking news and at least a preliminary win for the independence of the Federal Reserve,

the Supreme Court has just ruled at a one-line order that Lisa Cook is not going to be removed

from her position on the Board of Governors of the Federal Reserve because Donald Trump says

so to destroy the independence of the Federal Reserve, to give him control over interest

rates ultimately, because they want to have oral argument, they want to have full briefing,

and they want to take up the matter in January of 2026. She stays in the job as Board of

Governor member until then, which means she's going to participate in the October rate-setting

meeting, the one in November

and the one in December to set interest rates in this country, which is for now, at least,

a preliminary support for the independence of the Federal Reserve Board of Governors.

Trump won't be happy about this.

Let me break it down for you here on the Midas Touch Network and on Legal A.F.

I'm Michael Popock.

Lisa Cook is one of seven of the, seven members of the Board of Governors of the Federal Reserve,

which is our central bank, which sets monetary policy and particularly wields one major blunt force instrument. It sets intrabank overnight interest rates,

which then cascade down through interest rate setting among banks for personal loans,

mortgages, student loans, credit card loan, credit card debt and all of that. It's one way for the

Federal Reserve to promote jobs while keeping

inflation low. Donald Trump hasn't liked the rate of interest that the Federal Reserve has charged

because it is not giving enough free money into the economy to help paper over his failed economic

policy. So he's tried to attack the

independence of the Federal Reserve. He's done that in multitude of ways. First, he went after Jay Powell,

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