Federal Reserve Chairman Kevin Warsh is facing fresh tests this week, including an appearance at the European Central Bank’s annual forum in Portugal and a U.S. Supreme Court ruling on the legality of President Donald Trump’s effort to fire a Fed policymaker.

Supreme Court Ruling

The U.S. Supreme Court is expected to rule on whether Fed Governor Lisa Cook can keep her job despite Trump’s announcement last August that he was firing her. Lower courts have agreed that Cook is likely to win her legal challenge, and she has been allowed to remain on the Fed’s Board of Governors as the case worked its way to the Supreme Court.

Trump is the first president to attempt to dismiss a sitting governor, arguing that what he characterized as misstatements on a home mortgage application by Cook justified her removal. The move was seen as an attack on the Fed’s independence from political interference in its policymaking.

ECB Conference

Warsh’s appearance at the ECB conference will be a first test of how his approach to avoiding forward guidance is received by global peers, including ECB President Christine Lagarde and Bank of England Governor Andrew Bailey.

Warsh has said he plans to avoid as much as possible any talk or forward guidance about whether the policy interest rate should be raised or lowered on any given timetable, keeping his own outlook largely out of public view.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.