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Supreme Court Shields Fed Chair Jerome Powell from Presidential Removal
Supreme Court Shields Fed Chair Jerome Powell from Presidential Removal
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The U.S. Supreme Court has ruled that Federal Reserve Chair Jerome Powell cannot be unilaterally removed by the president, delivering a decisive check on executive power over monetary policy. The May 23 decision carves out the Fed as uniquely insulated among federal agencies, even as the court granted broader presidential authority over entities like the NLRB.
This legal safeguard arrives amid persistent tensions between Powell and former President Donald Trump, who publicly criticized the Fed’s interest rate policies during his administration. Market observers note the ruling reinforces central bank independence at a critical juncture, with crypto markets particularly sensitive to monetary policy shifts.
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