The US Supreme Court ruled that Federal Reserve Governor Lisa Cook can stay in her job for now, reinforcing the central bank’s independence from the White House and dealing a setback to President Donald Trump.
In a separate ruling, the court expanded the president’s power to fire top government officials at other federal agencies.
Voting 5-4, the high court said Cook can remain at the Fed while she fights Trump’s bid to oust her over unproven mortgage fraud allegations. Chief Justice John Roberts and Justice Brett Kavanaugh joined the three liberals in the majority.

Bloomberg's Paul Sweeney and Scarlet Fu got reaction from:

• June Grasso, Bloomberg Law Host
• Elliot Stein, Bloomberg Intelligence litigation analyst
• Tyler Kendall, Bloomberg Washington correspondent
• Gautam Mukunda, Lecturer at Yale School of Management and Bloomberg Opinion contributor

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Insight & analysis on the White House and Capitol Hill.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

US President Donald Trump accused Iran of violating their ceasefire agreement by firing at cargo ships transiting the Strait of Hormuz, underscoring how unsettled the situation remains in a waterway critical to global energy flows.

In a social media post Friday, Trump said “at least four” one-way attack drones targeted ships in the strait and that one of them “solidly hit the upper deck of a large and very expensive” cargo ship.

The vessel was “able to proceed,” Trump said, adding that the other three drones were downed.
“Obviously, this is a foolish violation of our Ceasefire Agreement,” the president posted, without saying what the consequences of a violation might be.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg Washington Correspondent Tyler Kendall.
• Democratic Congresswoman Madeleine Dean of Pennsylvania.
• Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
• Rear Admiral Mark Montgomery (Ret.), Foundation for Defense of Democracies Senior Fellow.

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Insight & analysis on the White House and Capitol Hill.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

Tensions between Donald Trump and US Senate Republicans crescendoed to a fever-pitch during a Wednesday lunch after a 24-hour exchange that saw lawmakers rebuke the president over the war with Iran while he abruptly canceled a signing ceremony for legislation that the GOP sees as essential to its midterm election efforts.

Trump refused to sign a bipartisan housing bill before attending a private luncheon with lawmakers at the US Capitol. A day earlier, as Trump was holding a campaign rally in Pennsylvania, the Republican-led Senate for the first time passed a largely symbolic measure to curb his ability to wage war with Iran.

US Senator John Kennedy, a Louisiana Republican, told reporters that Trump was “mad as a murder hornet” at the war powers vote because it undermined his ongoing negotiations with Iran.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg Washington Correspondent Tyler Kendall.
• NATO Secretary General Mark Rutte.
• Former US Ambassador to NATO Kay Bailey Hutchison.
• Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and American Principles Project Political Director Katie Frost.
• Taxpayers for Common Sense President Steve Ellis.

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