US Supreme Court declines US President Trump's action to remove Fed's Cook; in a 5-4 vote
- "Under the Court’s precedents, Cook was entitled to notice and some opportunity to respond before her termination"
- "The protection from removal enjoyed by Governors of the Federal Reserve is consistent with the Constitution"
- "The Court rejects the Government’s halfhearted contention that Cook in fact received due process. At minimum, Cook was entitled to some explanation of the evidence at issue, some avenue for a response, and a deadline by which a response would be due"
- "To accept any one of [the Trump administration's] arguments would in effect transform the Federal Reserve’s for-cause protection into at-will employment—an interpretive leap out of step with the statute Congress enacted and our Nation’s tradition of central banking protected from political interference. We therefore deny the Government’s application."
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