Apple News Today Will the Supreme Court allow Trump to fire Fed Chair Jerome Powell?
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Apr 22, 2025 A looming Supreme Court case could challenge the independence of the Federal Reserve, raising concerns about economic stability. Immigrant families are reconsidering their futures, with some even opting for self-deportation amid shifting policies. The challenges against Google's monopoly are heating up, as legal battles unfold over its advertising practices. In a parallel discussion, parental rights in education are under scrutiny, while Earth Day brings a spotlight on renewable energy advancements and a weakening dollar.
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Fed Independence at Stake
- The Federal Reserve is designed to be independent to avoid political pressure on monetary policy.
- If the Supreme Court allows the president to fire the Fed Chair at will, it could politicize interest rate decisions and destabilize the economy.
Historical Risks of Fed Pressure
- Political pressure on the Fed to keep rates low can cause long-term inflation and economic harm.
- This scenario historically led to a decade of high inflation after Nixon pressured the Fed in 1972.
Civil Service Protections Threatened
- Expanding presidential firing powers could undermine protections for civil servants.
- The case involves officials suing after being fired, claiming they can only be removed for cause.