The Supreme Cour t on Monday cleared the way for President Trump to freely fire officials from the Federal Trade Commission and most — though not all — agencies that have long been politically independent . Why it matters: It is a historic unraveling for agencies that have long been shielded from politics. The ruling will vastly expand presidential power and influence . The big picture: The ruling overturns Humphrey's Executor , a nearly century-old precedent that says independent agency commissioners cannot be fired without specific cause. What they're saying: "If anything more is left of Humphrey's, we overrule it," Chief Justice John Roberts wrote for the court. Yes, but: The 6–3 ruling came with a carve-out for the Federal…
Of 257 Democrats in Congress, just 15 were willing to sign onto a coalition to combat rising socialism and communism. As part of their “Promise to America,” the 15 Democrats declare (among other things): “We are capitalist, not socialist,” “We want safety, not lawlessness,” “We are proud, not ashamed of America.” In other words, more […]
The decision is a setback for Trump, who alleged that Lisa Cook committed mortgage fraud and has complained that the Fed is not dropping interest rates quickly enough.
The Supreme Court has blocked for now President Donald Trump’s unprecedented attempt to fire a member of the Federal Reserve Board of Governors, Lisa Cook.
The Supreme Court said Monday that President Trump could not fire Federal Reserve governor Lisa Cook, a blockbuster ruling that limits the president's influence on the central bank. Why it matters: It is among the bigger blows delivered by the top court to Trump's economic agenda. What they're saying: "We see no reason to leave the public in limbo, or to sow doubt as to the status of one of our Nation's (and the world's) most important financial institutions," Chief Justice John Roberts wrote. - "Although we appreciate that others may see matters differently, we would not so quickly unsettle this 'special arrangement sanctioned by history.'" Flashback: Trump said last year that he was firing Cook for cause, citing mortgage applications…
The Supreme Court blocked President Trump’s firing of Federal Reserve board member Lisa Cook on Monday in a 5-4 vote, ruling she can remain on the job as her legal challenge moves forward. Trump became the first president to attempt to fire a Fed board member in its 112-year history when he sacked Cook last year over accusations of mortgage [...]