US Fed’s Powell praised for response to Trump after relenting on Cook

By Neil Roland ( January 12, 2026, 21:12 GMT | Comment) -- US Federal Reserve Chair Jerome Powell has drawn plaudits for taking a stand on the threat to the central bank’s independence after abdicating a role on a pending attempt by President Trump to remove board member Lisa Cook — widely seen as a similar threat. Cook, the first and only Black woman to serve on the Fed, took a strong stand on the legal move by Trump. Her case is due to be heard by the Supreme Court Jan. 21. Powell emerged from behind his non-confrontational curtain over the weekend to issue a written statement and video about federal subpoenas he had received threatening criminal prosecution over the agency’s $2.5 billion building renovation.US Federal Reserve Chair Jerome Powell has drawn plaudits for taking a stand on the threat to the central bank’s independence after abdicating a role on a pending attempt by President Trump to remove board member Lisa Cook – widely seen as a similar threat....