The White House’s ‘move fast and break things’ attack on the Fed hit a roadblock yesterday: the Supreme Court. The White House had sought the immediate removal of Lisa Cook from her role as a Fed Governor while her court case over her firing proceeded. Two lower courts last month had allowed Cook to remain in her role. Yesterday, the Supreme Court did not settle the issue but delayed the decision to early next year. Delay is a good. Cook will remain at the Fed for the time being. As I explained last week, Cook’s removal could have triggered a cascade of events that would severely and rapidly undermine Fed ... (full story)