Anonymousabout 20 hours ago
The Supreme Court's January 2026 argument in Trump v. Cook and the administration's threats to fire Fed Chair Jerome Powell have forced a showdown over whether the 'for cause' removal protection in the 1913 Federal Reserve Act survives the Court's recent independent-agency precedents. Competing doctrinal lines from Humphrey's Executor, Seila Law, Collins v. Yellen, and the Trump v. Wilcox carveout leave the Fed in a distinct but untested legal category, while historical episodes of White House pressure on the Fed — Nixon-Burns in 1971-72 and Trump-Powell in 2018-19 — suggest measurable costs to Treasury markets, the dollar, and inflation expectations.