Bloomberg: The U.S. Supreme Court suggests that Trump will not be able to fire Federal Reserve Chairman Powell.

GateUser-6433627c · 2025-05-23T00:08:38+00:00

The U.S. Supreme Court ruled that The Federal Reserve (FED) is a "structurally unique quasi-private entity," calming public concerns over the president's dismissal of Powell. The ruling stated that the dismissal of two other independent agency members is permitted, but disagreed with the legal challenge argument.

GateUser-6433627c

2025-05-23 00:08:38

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On May 23, the U.S. Supreme Court said Thursday that the Federal Reserve is a “uniquely structured quasi-private entity,” according to Bloomberg. In Powell’s case, this decision, after a period of uncertainty, has provided some clarity on his job security and calmed fears that the president might fire Powell. The ruling allows Trump to fire two board members of two other independent bodies, Gwynne Wilcox of the National Labor Relations Board (NLRB) and Cathy Harris of the Performance Protection Board (MSPB). But the U.S. Supreme Court said in its ruling that “we do not agree” with Wilcox and Harris’s argument that their legal challenge to their own dismissal “necessarily implies constitutional protections for the removal of a member of the Federal Reserve Board of Governors or other members of the FOMC.”

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