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JPMorgan CDR (CAD Hedged)
Symbol JPM
Shares Issued 5,900,000
Close 2026-06-29 C$ 42.12
Market Cap C$ 248,508,000
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Globe/wire say Citi sees bid to fire Cook thwarted

2026-06-30 06:51 ET - In the News

See In the News (C-CITI) Citigroup CDR (CAD Hedged)

The Globe and Mail reports in its Tuesday, June 30, edition that the U.S. Supreme Court on Monday denied President Donald Trump's attempt to fire Federal Reserve governor Lisa Cook, upholding the Fed's independence against his challenge. A Reuters dispatch to The Globe reports that the court ruled 5-4 to block Mr. Trump from removing Ms. Cook, providing a safeguard for the Fed. This decision came as the court also expanded presidential authority to dismiss leaders of U.S. agencies in a separate ruling, overturning a 1935 precedent. No other president since the central bank's founding in 1913 had sought to oust a Fed governor. Chief justice John Roberts said Mr. Trump had "failed to afford Cook the procedural protections to which she was entitled by statute. Without such protections, she could not properly dispute the charges the President laid against her." Mr. Trump last August cited unproven mortgage fraud allegations in trying to oust Ms. Cook, the first Black woman to serve as a Fed governor. Ms. Cook denied the allegations, calling them a pretext to remove her for monetary policy differences. Reuters says the ruling definitively protects Fed officials from being fired at will by a president.

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