đUS Supreme Court Blocks Trump from Firing Federal Reserve Officialsđ
The U.S. Supreme Court has officially ruled that President Donald Trump cannot fire officials from the Federal Reserveâsending a strong signal to keep politics out of monetary policy.
1ď¸âŁ Fed Officials Off-Limits
The 6â3 ruling bars Trump from firing Federal Reserve officials, aiming to preserve the central bankâs independence from political interference.
2ď¸âŁ Some Officials Still on the Chopping Block
The Court did, however, allow Trump to proceed with firing Gwynne Wilcox of the National Labor Relations Board and Cathy Harris of the Merit Systems Protection Board.
3ď¸âŁ DC Circuit's Backing
The decision, backed by the DC Circuit Court of Appeals, reinforces the legal boundary between the executive branch and The Fedâs operations.
CONTEXT:
This comes amid Trumpâs ongoing friction with Fed Chair Jerome Powell, especially over interest rate policy. The Court's ruling seeks to maintain the Fedâs neutrality and credibilityâcrucial in a politically charged economic climate.