Justices find president does not have constitutional authority to fire Federal Reserve governor without cause
The US supreme court has refused Donald Trump’s attempts to immediately fire a Federal Reserve governor, in a landmark ruling that limits a president’s authority over the central bank.
In a 5-4 opinion, the court said that Lisa Cook can stay on as a governor while she fights unproven allegations of mortgage fraud made by the Trump officials.
“The Court decides this application on the narrow ground that the President failed to afford Cook the procedural protections to which she was entitled by statute. Without such protections, she could not properly dispute the charges the President laid against her,” the justices said.
The case was centered on Cook, a Joe Biden appointee whose 14-year term on the Federal Reserve board of governors is scheduled to expire in 2038. Cook is the first Black woman to serve on the Fed’s board.
You can tell this because the Slaughter ruling released at the same time undermines independent agencies, the Court says the Fed is a special case for some reason. Hmmm…
It’s not logic, they want a King, just not one who can fuck up their portfolio. Clownshoes Court.
Yeah. The article doesn’t say anything about the dissenting opinions, but I think the 4 who dissented on the Fed case might have just been honest enough to say there’s no legal reason to treat it differently from the FTC.