Bloomberg: US Supreme Court Suggests Trump Will Not Be Able to Dismiss Federal Reserve Chairman Powell

On May 23rd, according to Bloomberg, the US Supreme Court stated on Thursday that the Federal Reserve is a "structurally unique quasi private entity. For Powell, this decision, after a period of uncertainty, to some extent clarified his job security and eased concerns about the possibility of the president firing Powell. This ruling allows Trump to dismiss two board members from two other independent agencies, namely Gwynne Wilcox from the National Labor Relations Board (NLRB) and Cathy Harris from the Performance Systems Protection Board (MSPB). But in its ruling, the US Supreme Court stated that "we do not agree" with Wilcox and Harris' argument that their legal challenge to their own dismissal "necessarily implies that the removal protection for members of the Federal Reserve Board of Governors or other members of the Federal Open Market Committee for cause is constitutional