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Items tagged with: FederalReserve
…other than at the #FederalReserve, with its role of setting #InterestRates, #SCOTUS held that presidents have free rein to fire agency heads at will, despite #federal #laws that require a #cause for such dismissals & a 91-year-old decision that had limited #executive authority.
With the 6 conservative justices in the majority, the court jettisoned its unanimous decision in #HumphreysExecutor that had limited when presidents can fire agencies’ board members….
There was already chaos in the concept of independ agencies. The SCOTUS ruling was about restoring order. The ruling talked extensively about this.
For decades they've grappled with the contradiction that supposedly independent agencies were still under the president, reliant on the office, pulling from his treasury, interfacing with his regulatory processes, etc. And yet, somehow independent?
There's the chaos we've seen, those unavoidable conflicts of interest.
As the Court wrote, the Fed doesn't function in the mold of the FTC and other agencies. It's not pseudo-independent but pseudo-governmental.
#SCOTUS allows #LisaCook to remain at #Fed in another loss for #Trump
The Supreme Court on Monday rejected Trump’s attempt to immediately fire #FederalReserve Governor Lisa Cook.
Chief Justice John Roberts wrote the opinion for a 5-4 majority.
#law #Independence #economy #democracy
cnn.com/2026/06/29/politics/li…
