Okay here it is. No BoG purge for the Fed, Trump has to wait for Powell to finish his term. *SUPREME COURT SAYS AGENCY LEADER RULING DOESN'T APPLY TO FED - ThreadSky

peark.es • 25 days ago

Okay here it is. No BoG purge for the Fed, Trump has to wait for Powell to finish his term.

*SUPREME COURT SAYS AGENCY LEADER RULING DOESN'T APPLY TO FED

Comments

minerva1.bsky.social•25 days ago

lol

michatronix.bsky.social•25 days ago

Just as the Constitution says

ericblyler.bsky.social•25 days ago

curious who wrote the decision and how they phrased that carveout. It’s gotta be very klugey.

ramshackle78.bsky.social•25 days ago

Do you think the markets will see it as you or will they panic a bit? Thanks

ridgewaygirl.bsky.social•25 days ago

That's something at least.

peark.es•25 days ago

Happy to say this has been my view all year, and has been proven correct.

gbatta.bsky.social•25 days ago

Nice! Heard Richard Clarida on Goldman's The Exchange podcast the other day, he suggested the same.

peark.es•25 days ago

More context

oscaracostajd.bsky.social•25 days ago

Also, of all the words that have no meaning anymore, the word “conservative” has no meaning more than all others.

mwwaters.bsky.social•25 days ago

There’s clearly going to be an exception where the Fed Board of Governors alone will have protection from firing throughout the whole US government.

Inferior employees no longer have any protection either. Even if the Fed allows Civil Service protections, MSPB not having quorum nullifies them.

cryect.bsky.social•25 days ago

Can't wait to see the justification for why the Fed is special.

swolecialism.bsky.social•25 days ago

honestly really funny that they're going to limbo their way into somehow making the fed a special case because they don't trust the big man they're kowtowing to

proptermalone.bsky.social•25 days ago

I think they’re limboing their way into making the Fed a special case in part because that’s a *super* dangerous one for a future hypothetical lefty tyrant to touch

mattgill.me•25 days ago

can't wait to meet the FHLT

cruft.bsky.social•25 days ago

What’s your feeling on how important this ruling is towards trump consolidating power?

proptermalone.bsky.social•25 days ago

pretty priced in, would have been great if it went the other way but this was broadly expected

cruft.bsky.social•25 days ago

Thank you, that was my feeling too. I know it’s not your job/obligation to educate people, much less make them feel better, but your takes are legit helpful

fatapollo.bsky.social•25 days ago

and they did a carve-out for the Fed saying they can't do it there, because the SCOTUS knows they'll lose all their personal money

yeospaceman.bsky.social•25 days ago

American climate Stalin appoints himself chairman of the fed happens so far downstream of Roberts' worst nightmare too lmfao

proptermalone.bsky.social•25 days ago

Trump is going to get to replace Powell anyway

peark.es•25 days ago

Yeah they’re limboing to preserve the BoG not the Chair.

sharmake.bsky.social•25 days ago

Only in 2028, and by then most of the danger cases have already been either activated or avoided, so it's still basically protecting the Fed chair's independence.

proptermalone.bsky.social•25 days ago

he’s up as chair in 2026

jgschraiber.bsky.social•25 days ago

I think they're carving out the Fed because they know that it would be a disaster *tomorrow* if they didn't.

mrbuick.bsky.social•25 days ago

It’ll be a disaster regardless, whether it’s tomorrow or the last day of his presidency

towelieban.bsky.social•25 days ago

Hope Powell resigns right before his appointment is up so he can go back to serving as a BOG member and Trump has to pick from existing BOG.

jgschraiber.bsky.social•25 days ago

This is absolutely, 100% just post-hoc rationalization by the conservatives on the court who know that allowing Trump to fire Powell would cause an economic disaster. To be honest, calling it "post hoc rationalization" gives it too much credit; there is no rationalization provided.

mrbuick.bsky.social•25 days ago

Rulings from this SCOTUS are inherently illegitimate, so this tracks

peark.es•25 days ago

Oh no question