Mars Finance News, on May 23, according to Bloomberg, the US Supreme Court on Thursday stated that the Federal Reserve is a "uniquely structured quasi-private entity". For Powell, this decision clarifies his job security to some extent after a period of uncertainty, alleviating concerns about the president potentially dismissing Powell. The ruling allows Trump to dismiss two board members from two independent agencies: Gwynne Wilcox from the National Labor Relations Board (NLRB) and Cathy Harris from the Merit Systems Protection Board (MSPB). However, the US Supreme Court stated in its ruling that "we do not agree" with Wilcox and Harris's argument that their legal challenge to their dismissal "necessarily means that for-cause removal protections for Federal Reserve Board members or other Federal Open Market Committee members are constitutional."
Bloomberg: U.S. Supreme Court suggests Trump won't be able to fire Fed Chairman Powell
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