READ: The rare filing that underscored the stakes in the Supreme Court's Lisa Cook ruling

The US Supreme Court rejected Donald Trump's attempt to fire Federal Reserve Governor Lisa Cook, upholding the central bank's independence. This decision follows a rare amicus brief from every living former Fed chair and Treasury secretary, who argued that Trump's removal power threatens economic stability. The ruling reinforces the autonomy of the Federal Reserve, potentially limiting presidential influence over monetary policy and protecting investor confidence against an unprecedented challenge by the Republican president.