Carrie Johnson

Yeah.

Central part of Trump's agenda, the sweeping tariff plan.

He put it into place early in his administration and he's relying on a law from the 1970s called the International Emergency Economic Powers Act.

even though that law does not mention the word tariffs and it has not been used for that purpose since it was established by Congress.

And so the big question here is whether that law can carry the weight of all of these tariffs the president has imposed.

It's important to note that when this case was argued before the Supreme Court, even some of the conservative justices expressed concern about it and how much power it gave the executive branch.

Of course, Congress is really supposed to be in charge of appropriations and things like that.

So it's a big question moving forward how or if this will survive Supreme Court review.

There are a bunch of off-ramps the court could take here.

They could rule very narrowly, allowing Trump to use different laws or statutes to reimpose tariffs.

And they could rule in ways that would only affect monies moving forward.

Remember, at oral argument, Justice Amy Coney Barrett, a Trump appointee, raised a question about whether it would be really a complete mess to try to figure out how to give money back that had already been collected.

So

We're going to have to wait and see how narrowly the court rules here, but the administration could have other options, even if the court majority rules out the use of this particular law from the 1970s.

First off, let's talk about Trump versus Cook.

Cook is Lisa Cook, a member of the Federal Reserve Board, and President Trump wants to fire her.

He basically says that she may have committed mortgage fraud earlier before she got appointed to this board.

Lisa Cook herself has said that allegation is baseless and she has not been charged with any wrongdoing.

Members of the Fed are appointed for 14-year terms and they're appointed that way to try to insulate them from political pressure.

The law that created this board basically allows the president to remove people for cause.