2 Supreme Court rulings treat the Fed as an exception

In a significant move, the Supreme Court ruled that President Trump can't fire Federal Reserve governor Lisa Cook without cause, emphasizing the central bank's independence. This 5-4 decision underscores the Fed's unique position, safeguarding its autonomy from direct presidential control. While this ruling preserves Cook's job for now, it leaves the door open for future presidents to dismiss Fed governors if they can demonstrate legal justification, reshaping the dynamic between the executive and the central bank. This decision holds implications for future presidential oversight of the Fed and the broader debate on central bank independence.