The Supreme Court ruled on the authority of the President to fire heads of independent agencies, including the Federal Reserve, in a recent decision.
The ruling allows President Trump to fire heads of most independent agencies but maintains that Federal Reserve governors cannot be removed without cause. This decision reflects a shift in the Court's interpretation of executive power and the independence of regulatory agencies.
The Court upheld Trump's firing of Rebecca Slaughter from the Federal Trade Commission but blocked his attempt to fire Federal Reserve Governor Lisa Cook. The ruling indicates that Cook, appointed by President Biden, serves a staggered 14-year term and can only be removed for cause, which requires due process.
The ruling suggests a potential expansion of presidential power over independent agencies, while also highlighting the need for clearer legislative guidelines regarding the removal of Federal Reserve governors.
Left-leaning perspective
Right-leaning perspective
“The Federal Reserve is an independent agency whose Governors enjoy for-cause removal protection consistent with Article II of the Constitution.”
“Today’s Historic Slaughter Decision by the Supreme Court is the Greatest Increase in Presidential Power in the last 100 years.”
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