The Supreme Court upheld Federal Reserve independence by preventing a presidential attempt to remove Fed Governor Lisa Cook, granting her a stay while her case proceeds. The justices ruled 5-4 that Trump was wrong to try ousting Cook without due process after allegations of mortgage fraud, which she denied. The decision preserved the “for-cause” removal framework as interpreted by prior precedent and emphasized both the independence of the Fed and the appearance of independence, reinforcing how monetary policy credibility underpins financial markets. It followed earlier legal moves involving subpoenas related to a Justice Department probe into former Fed Chair Jerome Powell, which a district judge dismissed. Higher education stakeholders are affected indirectly through the broader policy transmission: rate expectations influence endowments, tuition financing and student borrowing costs, and economic conditions that drive enrollment and institutional budgets.