Supreme Court rules Trump cannot fire Fed member Lisa Cook; grants him more power over other independent agencies

Key Points:

• The Supreme Court blocked President Trump’s attempt to fire Federal Reserve board member Lisa Cook, ruling that she cannot be removed without cause and must be given notice and an opportunity to respond before termination.
• In a separate ruling, the Court allowed Trump to remove Federal Trade Commission member Rebecca Kelly Slaughter without cause, overturning a 1935 precedent that had restricted presidential firing powers for independent agencies.
• The Court distinguished the Federal Reserve from other independent agencies, emphasizing its unique structure and protecting it from political interference, while granting the president broader authority over other federal agencies.
• The decisions reflect the conservative-majority Court’s nuanced approach: limiting Trump’s power over the Federal Reserve, a key monetary policy institution, but expanding his control over other independent regulatory bodies.
• Trump praised the FTC ruling as a historic victory for presidential powers, while Lisa Cook condemned the firing attempt as politically motivated; the Court did not rule on the merits of the fraud allegations against Cook.