Markets watch closely as US top court takes up Fed independence test

The US Supreme Court is set to hear a landmark case that could test the Federal Reserves independence, as it examines whether a president can remove a Fed governor. The case, stemming from Donald Trumps attempt to oust Governor Lisa Cook, could either reinforce the central banks insulation from political pressure or clarify how presidents might lawfully exert control, potentially redefining the limits of presidential authority over monetary policy.