A few dissenters cautioned that the majority didn’t allow the legal case over the president’s effort to fire the Fed governor Lisa D. Cook to play out in the lower courts.
A few dissenters cautioned that the majority didn’t allow the legal case over the president’s effort to fire the Fed governor Lisa D. Cook to play out in the lower courts.
President Trump promised to “take appropriate action immediately” against Lisa Cook, the Fed governor he had tried to fire, even as the court affirmed that Fed officials can be fired only for cause.
President Trump promised to “take appropriate action immediately” against Lisa Cook, the Fed governor he had tried to fire, even as the court affirmed that Fed officials can be fired only for cause.
In twin rulings, the Supreme Court affirmed the Fed’s independence and said its leaders could not be fired at will, but said President Trump could fire other independent regulators for any reason.
In twin rulings, the Supreme Court affirmed the Fed’s independence and said its leaders could not be fired at will, but said President Trump could fire other independent regulators for any reason.
Over the next two weeks, the justices will release more than a dozen final opinions, including high-profile decisions on birthright citizenship, the Federal Reserve and transgender athletes.
Over the next two weeks, the justices will release more than a dozen final opinions, including high-profile decisions on birthright citizenship, the Federal Reserve and transgender athletes.
The justices will resolve a series of high-profile cases testing the Trump administration’s policies to expand presidential power and reshape the federal bureaucracy.
President Trump’s pick to replace Jerome H. Powell takes the helm at a highly uncertain moment for the economy and with heightened concern about the Federal Reserve’s ability to operate independently.
President Trump’s pick to replace Jerome H. Powell takes the helm at a highly uncertain moment for the economy and with heightened concern about the Federal Reserve’s ability to operate independently.
As the justices weighed the consequences of allowing President Trump to fire a Federal Reserve official, the president reprised his pressure campaign on the central bank.
As the justices weighed the consequences of allowing President Trump to fire a Federal Reserve official, the president reprised his pressure campaign on the central bank.
In addition to disputing whether the president had sufficient cause to remove her, the Fed governor said the way he went about it was a separate problem.
In addition to disputing whether the president had sufficient cause to remove her, the Fed governor said the way he went about it was a separate problem.
The filing, also signed by six former Treasury secretaries, said that letting President Trump fire Lisa Cook would deal a blow to the credibility of the nation’s monetary policy.
The filing, also signed by six former Treasury secretaries, said that letting President Trump fire Lisa Cook would deal a blow to the credibility of the nation’s monetary policy.
Treasury Secretary Scott Bessent said it was a mistake for Jerome Powell to attend arguments in a case on Fed independence. But Mr. Bessent attended a tariff case.
Treasury Secretary Scott Bessent said it was a mistake for Jerome Powell to attend arguments in a case on Fed independence. But Mr. Bessent attended a tariff case.
“If you’re trying not to politicize the Fed, for the Fed chair to be sitting there trying to put his thumb on the scale is a real mistake,” Treasury Secretary Scott Bessent said.
The administration has downplayed concerns — from mass job losses, to a potential financial bubble — as President Trump cheers soaring stock prices and faster growth.
The administration has downplayed concerns — from mass job losses, to a potential financial bubble — as President Trump cheers soaring stock prices and faster growth.
The president seemed poised for a big Supreme Court win letting him remove officials without cause. But the justices appeared to struggle with how to insulate the Federal Reserve from politics.
The president seemed poised for a big Supreme Court win letting him remove officials without cause. But the justices appeared to struggle with how to insulate the Federal Reserve from politics.
President Trump has mused about trying to fire Jerome H. Powell, the Fed chair, but he has not followed through. Indeed, no president has sought to remove a member of the Fed board without cause.
The president seemed poised for a big Supreme Court win letting him remove officials without cause. But the justices appeared to struggle with how to insulate the Federal Reserve from politics.
The president seemed poised for a big Supreme Court win letting him remove officials without cause. But the justices appeared to struggle with how to insulate the Federal Reserve from politics.
President Trump has mused about trying to fire Jerome H. Powell, the Fed chair, but he has not followed through. Indeed, no president has sought to remove a member of the Fed board without cause.
The justices have indicated that they will try to find a way to protect the independence of the Fed, even as they let presidents remove leaders of other agencies.
The justices have indicated that they will try to find a way to protect the independence of the Fed, even as they let presidents remove leaders of other agencies.
Anmelden
