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Press conference with Federal Open Market Committee [#FOMC] Chair #JeromePowell at 2∶30PM ET∶
#FederalReserve #Fed #InterestRates #economy #money #Trump #tariffs #inflation #recession #trumpcession #Affordability #CostOfLiving
#Trump has made clear he wants the chance to stack the nation’s #CentralBank with #political #loyalists. In court, the admin has strenuously steered clear of this rhetoric. Outside of court, though, Trump has repeatedly boasted about the changes he hopes to bring to the #Fed.
#law #FederalReserve #economy #independence #SCOTUS #authoritarianism
nytimes.com/2026/01/21/us/poli…
The justices have signaled that the #Fed may be uniquely protected from presidential meddling, even as the court’s conservative majority has allowed #Trump to fire leaders of other #independent #FederalAgencies.
#law #FederalReserve #economy #independence #SCOTUS #authoritarianism
The #FederalReserve sets #MonetaryPolicy & #InterestRates, among other duties, & when #Congress established it, lawmakers worked to insulate it from #political #influence. Its leaders have 14-year terms & may be removed only “for cause.” But #Trump has increasingly attacked the #Fed, pressuring it to lower interest rates as well as trying to push out its chair, #JeromePowell, & fire board governor #LisaCook.
During the oral arguments, Justice Brett M. #Kavanaugh pressed Trump’s representative, Solicitor General D. John #Sauer, over the idea that a victory for #Trump could allow future admins to try to dismiss #Fed officials “at will.” [because, it’s only okay if this admin does it 🤦🏼♀️]
In the first hour, the justices sounded wary of siding with Trump’s view that he should have full discretion to decide what actions are grounds for removal.