Trump challenges legal precedent to dismiss Federal Reserve Chair
Donald Trump has requested permission from the Supreme Court to dismiss senior officials of two independent federal agencies, possibly paving the way to oust Federal Reserve Chair, Jerome Powell, slowly. This legal move aims to challenge a legal precedent from 1935 that allows Congress to protect senior officials of independent agencies from arbitrary removal by the president. Trump’s legal team argues that these restrictions contradict the Second Amendment of the Constitution. This development coincides with Trump’s pressure on Powell to significantly reduce the Federal interest rate.
