The Supreme Court expanded Trump’s authority to fire independent regulators but blocked his effort to remove Fed Governor Lisa Cook and upheld mail-in ballot rules. The justices also declined to review a $5 million civil judgment in E. Jean Carroll’s case.
Posts tagged as “26 Federal Plaza”
The Supreme Court ruled 6-3 that FTC commissioners’ removal protections are unconstitutional, overturning the 1935 Humphrey’s Executor precedent. The decision gives presidents broader power over independent agencies while leaving separate litigation over the Federal Reserve on a different track.
The Fed’s preferred inflation measure rose at a 4.1% annual pace in May, the fastest since April 2023, as energy prices climbed. Consumer spending and incomes still increased after adjusting for inflation.
Technology shares fell sharply around the world Tuesday as investors questioned whether AI spending will produce profits that justify lofty valuations. SpaceX, chipmakers and memory stocks led the declines, while inflation and interest-rate concerns added pressure.
Alan Greenspan, who led the Federal Reserve from 1987 to 2006 under four presidents, died at 100 from complications of Parkinson’s disease. His legacy spans a long economic expansion, market crises and later criticism over deregulation before the 2007-08 financial collapse.
The Federal Reserve unanimously held interest rates at 3.5% to 3.75% in Kevin Warsh’s first meeting as chair. New projections showed inflation expectations rising and nearly half of policymakers open to a rate hike later this year.
Kevin Warsh chairs his first Federal Reserve rate meeting as inflation rises and energy prices remain elevated after the U.S.-Iran conflict. Investors will watch the policy statement, news conference and dot plot for signs of the new chairman’s approach.