President Trump fired Alvaro Bedoya and Rebecca Slaughter, the two Democratic commissioners at the Federal Trade Commission, last week, sending shock waves through political and business circles. The FTC is an independent, bipartisan agency and, as a defender of antitrust and consumer protection laws, one of the most important government watchdogs. FTC commissioners serve seven year terms and, according to a 1935 SCOTUS ruling, can only be fired for cause. But even though, based on that decision, Bedoya’s and Slaughter’s terminations are illegal, FTC Chair Andrew Ferguson has come out in support of Trump’s firing power. The White House says it’s ready to take the case to the Supreme Court.
Kara talks to Bedoya and Slaughter about why this happened now, what Elon Musk and other tech billionaires stand to gain by getting rid of “minority commissioners,” and why business leaders are concerned that Trump’s move could affect other independent agencies, like the Federal Reserve.
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