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Supreme Court Shields Fed Chair Powell from Presidential Removal
Supreme Court Shields Fed Chair Powell from Presidential Removal
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The U.S. Supreme Court has ruled that Federal Reserve Chair Jerome Powell cannot be unilaterally dismissed by the president, drawing a legal distinction between the central bank and other federal agencies. The May 23 decision preserves the Fed’s independence amid former President Donald Trump’s public criticisms of Powell’s monetary policies.
While the ruling permits presidential removal of leaders at agencies like the NLRB and MSPB, it categorizes the Fed as a "uniquely structured, quasi-private" institution. This precedent reinforces institutional safeguards for cryptocurrency markets that rely on stable monetary policy frameworks.
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