Former Fed Chairs Urge Supreme Court to Protect Fed Independence
By Nick Timiraos, The Wall Street Journal, 9/25/2025
Leading U.S. economic policymakers over the last 35 years, including every living former chair of the Federal Reserve, urged the Supreme Court to allow Fed governor Lisa Cook to remain in her job… [end quote]
I hope that the Supreme Court respects the unanimous opinions of the Fed chairs more than President Trump respected 1,000 staffers at the Department of Health and Human Services (HHS), which oversees the CDC, who called on Trump to fire HHS Secretary Robert F. Kennedy Jr., citing his spread of vaccine misinformation and alleged mistreatment of career staff.
The decision depends on how Congress’ phrase “removed for cause” is interpreted, and how far SCOTUS is willing to advance the Unitary Executive Theory. Some say “for cause” is unreviewable by courts. The Supreme Court could blame Congress for using inexact language, and advance the Unitary Executive Theory. What happens to the price of gold when the Unitary Executive Theory prevails?
“A federal judge in Washington, D.C., Jia Cobb, issued an order on Sept. 9 that requires the Federal Reserve to allow Cook to remain in office while her challenge to her firing moves forward. Cobb concluded that Cook was “substantially likely” to show that Trump had violated the Federal Reserve Act when he fired her because the “for cause” requirement does not allow the president to remove a board member for her conduct before she took office. The firing also violated Cook’s constitutional right to fair treatment, Cobb added, because she did not have notice and an opportunity to contest her firing before it occurred.”
“This Court explained that “removal for cause, when causes are not defined,” “is a matter of discretion and not reviewable.””
The Unbearable Lightness of the Unitary Executive Theory, 11 March 2025
“If, however, a President’s agenda is to hollow out government—to incapacitate agencies from implementing their legislative duties in a vigorous way—that President cannot rely on statutory power alone. Congress has not authorized the President to undo the administrative establishment it created.”
Thanks Captain! What a great gold mine of journalism.
Leave it to Germans to collect some of the most professional, measured, insightful writings by knowledgable USAians and publish them, while we wander in mass media hell with an occassional potent insight from some ancient columnist.
Go to those links provided upthread by the Captain folks, for a small taste of what normal civic commentary looked like in my childhood, and calm analysis of our predicament.