Federal Reserve Board

The Supreme Court released two rulings—Trump v. Slaughter and Trump v. Cook—simultaneously to avoid uncertainty about the Federal Reserve’s independence, as the cases addressed limits on President Trump’s influence over federal agencies and the central bank. The Court expanded presidential authority over regulatory boards but protected the Fed’s independence, with Chief Justice Roberts emphasizing the need to avoid public doubt about the institution’s stability.

The U.S. Supreme Court ruled 6-3 that President Donald Trump could remove Federal Trade Commissioner Rebecca Slaughter but could not fire Federal Reserve Board member Lisa Cook. The decision overturned part of a 1935 precedent, expanding presidential authority over agency panels while preserving removal protections for some independent bodies. The ruling split the court along ideological lines, with Chief Justice John Roberts writing the majority opinion and Justices Sotomayor, Kagan, and Jackson dissenting.

The U.S. Supreme Court ruled 6-3 that President Donald Trump could remove Federal Trade Commissioner Rebecca Slaughter but could not dismiss Federal Reserve Board member Lisa Cook. The decision overturned a 1935 precedent limiting presidential authority over agency panels, with the majority asserting the FTC must be controlled by the executive branch. Justices Sonia Sotomayor, Elena Kagan, and Ketanji Brown Jackson dissented, emphasizing the importance of agency independence.

The U.S. Supreme Court ruled 6-3 that President Donald Trump could remove Federal Trade Commissioner Rebecca Slaughter but could not fire Federal Reserve Board member Lisa Cook. The decision overturned a 1935 precedent, asserting that agencies exercising executive power must be controlled by the president, while dissenting justices emphasized the importance of agency independence.

The U.S. Supreme Court ruled 6-3 that President Donald Trump could remove Federal Trade Commissioner Rebecca Slaughter but could not dismiss Federal Reserve Board member Lisa Cook. The decision overturned the 1935 Humphrey’s Executor v. United States ruling, asserting that agencies exercising executive power must be controlled by the president.

The U.S. Supreme Court allowed President Trump to remove Federal Trade Commissioner Rebecca Slaughter but blocked his attempt to fire Federal Reserve Board member Lisa Cook. The 6-3 decision overturned a 1935 precedent, expanding presidential authority over agency panels but affirming limits on removing Federal Reserve members.

The U.S. Supreme Court ruled 6-3 that President Donald Trump could remove Federal Trade Commissioner Rebecca Slaughter but not Federal Reserve Board member Lisa Cook. The decision overturned a 1935 precedent limiting presidential removal power over agency appointees, with Chief Justice John Roberts arguing the Federal Trade Commission exercises executive power requiring presidential control. Three liberal justices dissented, warning the ruling undermines agency independence.

The U.S. Supreme Court ruled 6-3 that President Donald Trump could fire Federal Trade Commissioner Rebecca Slaughter but could not remove Lisa Cook from the Federal Reserve Board. The decision overturned a 1935 precedent, expanding presidential authority over agency panels while preserving limits on removing Federal Reserve members. The ruling split along ideological lines, with the majority emphasizing executive control over agencies exercising executive power and dissenters warning of reduced independence for regulatory bodies.

The U.S. Supreme Court ruled 6-3 that President Donald Trump could remove Federal Trade Commissioner Rebecca Slaughter but could not dismiss Federal Reserve Board member Lisa Cook. The decision overturned a 1935 precedent limiting presidential removal power, expanding executive authority over agency panels. Justices split along ideological lines, with the majority asserting the FTC must be controlled by the president due to its exercise of executive power.

The Supreme Court blocked Trump from firing Federal Reserve Board appointee Lisa Cook. Trump alleged Cook committed mortgage fraud and criticized the Fed for not lowering interest rates quickly enough.

The Supreme Court ruled against President Donald Trump's attempt to remove Federal Reserve Board Governor Lisa Cook, upholding the independence of the Federal Reserve as protected by the 1913 Federal Reserve Act and 1935 Banking Act. Trump claimed mortgage fraud to justify Cook’s termination, but lower courts and the Supreme Court blocked the removal, emphasizing the Fed’s role as an autonomous entity.

Elon Musk became the world's first trillionaire through the SpaceX IPO, highlighting growing wealth concentration in the U.S. The top 1% held 31.9% of the nation's wealth in 2025, driven by stock market gains and Trump-era policies. Economists attribute this trend to tax cuts and corporate profit distribution shifts.

Elon Musk became the world's first trillionaire following SpaceX's IPO, highlighting growing wealth concentration in the U.S. The top 1% held 31.9% of the nation's wealth by 2025, driven by stock market gains and policies under President Donald Trump. Economists attribute the trend to tax cuts and corporate profit distribution shifts.

Elon Musk became the world's first trillionaire following the SpaceX IPO, highlighting accelerating wealth concentration in the U.S. The top 1% held 31.9% of the nation's wealth by 2025, driven by stock market gains and policies under President Donald Trump, which critics argue exacerbate inequality.

Elon Musk became the world's first trillionaire following the SpaceX IPO, highlighting a U.S. trend of accelerating wealth concentration since 2022. The top 1% of Americans held 31.9% of the nation's wealth by 2025, driven by stock market gains and pro-business policies under President Donald Trump.

Elon Musk became the world's first trillionaire following the SpaceX IPO, exemplifying the accelerating wealth concentration in the U.S. The top 1% held 31.9% of the nation's wealth by 2025, driven by stock market gains and pro-business policies linked to Donald Trump's tax cuts.

Elon Musk became the world's first trillionaire through the SpaceX IPO, highlighting wealth concentration in the U.S. The top 1% held 31.9% of the nation's wealth in 2025, up from 22.5% in 1990, driven by stock market gains and Trump-era policies. Economists like Thomas Piketty link this trend to policy choices and warn of historical parallels to pre-Great Depression inequality.

Elon Musk became the world's first trillionaire through the SpaceX IPO, highlighting accelerating wealth concentration in the U.S. The top 1% held 31.9% of the nation's wealth by 2025, a record since 1989, driven by stock market gains and Trump-era policies. Economists like Thomas Piketty and Emmanuel Saez link this trend to lax tax policies and corporate profit distribution.

The Supreme Court is preparing to issue rulings on multiple cases involving Trump and GOP policy goals, including presidential authority over regulatory agencies, birthright citizenship, and immigration policies. Key cases include Trump v. Slaughter, which challenges the independence of federal agencies, and Trump v. Barbara, concerning birthright citizenship. The court also considers appeals related to border policies and the termination of temporary protected status for migrants.

Michael Barr, governor of the US Federal Reserve, warned of risks associated with looser Wall Street bank rules. The Federal Reserve Board released projections indicating one rate cut this year.

Federal Reserve Board Governor and former chair Jerome Powell received the 2026 John F. Kennedy Profile in Courage Award at the John F. Kennedy Presidential Library and Museum in Boston, Massachusetts on May 31, 2026. Powell delivered a defense of Federal Reserve independence during the event.

Federal Reserve Chair Jerome Powell plans to remain a member of the Federal Reserve board after his term as chair expires this month, according to recent statements. Senator Tim Scott criticized this decision, stating it is a 'significant mistake'. Powell's term as chair is set to expire soon.

Federal Reserve Chair Jerome Powell announced his intention to remain at the central bank as a governor after his chair term ends next month, stating he will not leave until an ongoing investigation is resolved. His decision aims to ensure continuity during the transition period.

The Justice Department has ended its criminal investigation into Federal Reserve Chair Jerome Powell, removing a barrier to his successor Kevin Warsh's Senate confirmation. The probe into the Fed's building renovations was transferred to the Fed's inspector general, and a judge previously criticized the DOJ's lack of evidence. Warsh, nominated by President Donald Trump, faces potential swift confirmation now that the investigation is resolved.

DOJ officials are attempting to tour the Federal Reserve's ongoing renovations at the Marriner S. Eccles Building in Washington, DC, as a probe into potential misconduct stalls. Construction continues at the site, indicating progress despite the stalled investigation.