The US Supreme Court refused on Monday to let Donald Trump \u2060fire Federal Reserve Governor Lisa Cook as it stood firm to preserve the central bank\u2019s cherished independence against an unprecedented challenge by the Republican \u2060president.<\/p>\n
The court, in a 5-4 ruling, blocked Trump\u2019s bid to become the first president to remove a Fed official since Congress created the central bank in 1913. In his second term as president, \u2060Trump has tested the limits of presidential power in numerous other ways as well.<\/p>\n
Conservative Chief Justice John Roberts and fellow conservative Justice Brett Kavanaugh were in the majority, along with the court\u2019s three liberal justices. Conservative Justices Clarence Thomas, Samuel Alito, Neil Gorsuch and Amy Coney Barrett dissented.<\/p>\n
Roberts, who wrote the ruling, said Trump \u201cfailed to afford Cook the procedural protections to which she was entitled by statute. Without such protections, she could not properly dispute the charges the president laid against her\u201d.<\/p>\n
Canvassing the history of the Federal Reserve System and its predecessor central banks since the founding, including the Bank of North America and the First and Second Banks of the United States, Roberts emphasised that all have featured independence from the president.<\/p>\n
\u201cLike the directors of its three predecessors, however, the Federal Reserve\u2019s Governors do not serve at the president\u2019s pleasure \u2013 they instead serve staggered 14 year terms, and may be removed only \u2018for cause\u2019,\u201d Roberts wrote.<\/p>\n","protected":false},"excerpt":{"rendered":"The US Supreme Court refused on Monday to let Donald Trump \u2060fire Federal Reserve Governor Lisa Cook as…\n","protected":false},"author":2,"featured_media":133531,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[146],"tags":[64927,3428,7554,12,2563,64926,6350,64925,6058,535,3201,23683,64902,17,6004],"class_list":["post-133530","post","type-post","status-publish","format-standard","has-post-thumbnail","category-john-roberts","tag-bank-of-north-america","tag-brett-kavanaugh","tag-clarence-thomas","tag-donald-trump","tag-federal-reserve","tag-federal-reserve-act","tag-federal-trade-commission","tag-first-and-second-banks-of-the-united-states","tag-jerome-powell","tag-john-roberts","tag-kevin-warsh","tag-lisa-cook","tag-rebecca-slaughter","tag-united-states","tag-us-supreme-court"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@people\/116834528696661135","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts\/133530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/comments?post=133530"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts\/133530\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/media\/133531"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/media?parent=133530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/categories?post=133530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/tags?post=133530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}