Nancy Marshall-Genzer

Powell's visit to the Supreme Court would be highly unusual, but he wouldn't be the first Fed chair to attend oral arguments there.

Former Chair Paul Volcker sat in the gallery for a case back in the 1980s.

The Associated Press is reporting that Powell will attend Cook's case, which is about the ability of a president to fire a member of the Fed's Board of Governors.

The Trump administration is accusing Lisa Cook of mortgage fraud.

She denies the allegations.

Powell's expected appearance at the court today is part of the Fed chair's new approach toward President Trump.

For months, Powell generally refused to comment as President Trump

repeatedly pressured him to lower interest rates.

But earlier this month, Powell unveiled a new aggressive stance toward the White House with an extraordinary video in which he said the Department of Justice had served the Fed with grand jury subpoenas related to renovations of some historic office buildings.

Powell said the threat of criminal charges was a pretext, a consequence of the Fed setting interest rates independently of what the president wanted.

I'm Nancy Marshall Gensler for Marketplace.

President Trump heads to Davos.

From Marketplace, I'm Nancy Marshall-Genzer in for David Boncaccio.

First, Larry Adam joins us to talk housing and tariffs.

He's chief investment officer at Raymond James, which is a Marketplace underwriter.

I started by asking what he expects when we get pending home sales tomorrow.

I know President Trump has said consistently that foreign firms pay for tariffs.

But there's new research from a German think tank that found that only about 4% of the burden of tariffs is actually shouldered by exporters.

Why do you think exporters don't foot much of the bill?

Yeah, and consumers have been expecting prices to rise, but that hasn't happened that much because of tariffs.