Noticed the Supreme Court said “He” and not “The President”…
WHAT A DAY:
The Supreme Court handed Donald Trump vast new powers to fire top federal officials today — but told him to back off their beloved stock market.
In the second-to-last day of this year’s Supreme Court decision season, the justices sent President Donald Trump a mixed message. On the one hand, they said, Sure, you can fire the head of any independent federal agency, even those that Congress said should be protected. This move presents Trump with kingly new authority to continue transforming the Executive Branch into his own personal fiefdom.
But, in what might seem a contradiction, the court carved out an exception for the Federal Reserve — the institution whose independence is vital to the stability of America’s financial system. (Political decision-making here could disrupt the economy, boost inflation, kneecap job growth, crater the stock market… and cost wealthy stock owners a fortune.)
The mind-boggling split screen tells you something important about this conservative-packed Supreme Court: It’s willing to play guardian of the old order in a few selective places — notably, when the fortunes of the rich and powerful are at stake.
When it comes to America’s most vulnerable, however, the message is clear:
You’re on your own.
Chief Justice John Roberts noted the singular importance of the Fed in writing. “Not only the fact of independence but also the appearance of independence is key to the Federal Reserve’s design,” Roberts wrote in a majority opinion. “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.”
That concept of independence doesn’t extend to other federal agencies, apparently. The Supreme Court also ruled that Trump lawfully fired Federal Trade Commission chief Rebecca Slaughter without cause last year.
“Although it is up to the Senate to decide whether to confirm those with whom the President would prefer to work, neither Congress nor the courts may saddle him with those with whom
he
cannot work,” Roberts wrote in another opinion released today.
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