Supreme Court Blocks Trump’s Unprecedented Bid to Fire Fed Governor
Part of composite article Supreme Court Hands Trump Power to Fire Regulators, Overturning 90-Year Precedent – But Protects Fed Chief View full article →
The US Supreme Court on Monday refused to let President Donald Trump fire Federal Reserve Governor Lisa Cook, delivering a major win for the central bank’s independence. In a 5-4 ruling, the court blocked Trump’s attempt to become the first president to remove a Fed official since Congress created the central bank in 1913. The decision preserves the Fed’s ability to set monetary policy without political pressure. Trump, in his second term, has tested the limits of presidential power in other areas as well.