Fate of Fed Intertwined With FTC Democrat, Supreme Court Told
The case before the Supreme Court centers on the President's ability to remove members of independent agencies, such as the Federal Trade Commission (FTC). Lawyers representing the FTC's sole remaining Democrat argued that allowing the President to remove independent agency members would undermine the legal basis for the independence of the Federal Reserve. The FTC lawyer contended that the independence of agencies like the Federal Reserve is crucial to their ability to carry out their mandates effectively, and that this independence could be jeopardized if the President is granted broad powers to remove agency members. The Supreme Court's decision in this case could have far-reaching implications for the autonomy and functioning of various independent federal agencies, including the Federal Reserve, which plays a critical role in the US economy.
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