The Federal Reserve Board is composed of 7 members removable by #POTUS only for cause. #SCOTUS upheld the constitutionality of such independent agencies in Humphrey’s Executor v. US. But that case was undermined by the #SupremeCourt decision in Trump v. Wilcox to allow the removal of a member of the NLRB. Now, Trump has fired a member of the Federal Reserve Board. Will the Court uphold the Board’s independence in Trump v. Cook? #law #history #economics
https://senatormoobs.substack.com/p/the-lender-of-last-resort?r=2j3pr7
Well, there's a fundamental argument about whether the Federal Reserve Board IS such an independent agency in the first place, or if it's something different.
SCOTUS has hinted that there might be a distinction with a difference.
