The Supreme Court told Trump he can't fire Fed Governor Lisa Cook. Then the Supreme Court told Trump he can fire Fed Governor Lisa Cook if he tries harder. Legal scholars call this a "partial victory." The rest of us call it a f*cking participation trophy with instructions.
Cook's lawyer fired back at Trump's renewed threat. Fired back. As if words from an attorney have ever stopped a president from doing anything. The lawyer probably billed eighteen hundred dollars an hour to write a letter that will change absolutely nothing about whether Cook keeps her job. Trump will either fire her or he won't. The Nasdaq will move 0.03% in either direction. Your portfolio will remain dogshit regardless.
The Supreme Court left Trump with a path to try again. They drew him a map. They gave him turn-by-turn directions. They practically handed him a legally compliant crowbar and said "not through that window, try the back door." This is what passes for constitutional law now. Vague instructions that require a second attempt.
Retail traders are currently Googling whether this makes them bullish or bearish on regional banks. The answer is neither. The answer has always been neither. Lisa Cook could be fired, promoted to Fed Chair, or replaced by a golden retriever wearing Ben Bernanke's glasses and your technical levels would not move one basis point. The 50-day moving average does not care about personnel disputes. The RSI does not read legal briefs.
Trump wants Cook gone. Cook's lawyer wants Trump to stop wanting Cook gone. The Supreme Court wants everyone to file more paperwork. And you want to know what this means for your calls expiring Friday. It means you're going to lose money on those calls, but not because of this.
Photo by Olek Buzunov on Unsplash
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