Supreme Court Blocks Trump Firing of Fed's Cook; Trump Renews Removal Threat
- The Supreme Court ruled 5-4 on June 29 that Trump cannot remove Fed Governor Lisa Cook, finding the administration skipped statutory procedural protections, while distinguishing the Fed as uniquely independent (WSJ, NYT).
- In a paired decision the same day, the Court held the president can fire heads of other independent agencies at will, effectively narrowing Humphrey's Executor for non-Fed bodies - a split that preserves Fed independence but widens presidential power elsewhere.
- Hours after the ruling, Trump publicly renewed his threat to try again to fire Cook, keeping a live overhang over Fed governance and rate-policy expectations into the July FOMC blackout.