How the Supreme Court Ushered in Corporate Chaos in D.C.

ImageAndrew here.Over the last three decades, I’ve interviewed dozens of commissioners from major U.S.

agencies, including the F.T.C., the F.C.C.and the S.E.C.

Historically, these bodies promoted robust internal debates, anchored by independent commissioners who served as vital checks and balances.That era effectively ended on Monday.The Supreme Court has declared that executive power gives the president the authority to reshape these agencies at will.

Many are framing this as a short-term political win for President Trump, viewing it through a narrow, partisan lens.That misses the bigger picture: This will persist long after his administration.The real casualty here is economic growth.

Without internal pushback or regulatory continuity between administrations, businesses face an era of unpredictable policy whiplash — making long-term strategic planning much more complicated.What the presidency wonMany defenders of the Fed breathed a sigh of relief when the Supreme Court rejected President Trump’s bid to immediately fire Lisa Cook as a governor of the central bank.But in a related ruling, the high court expanded presidential control over nominally independent federal agencies.And Cook may enjoy only a short respite from Trump’s legal attacks.The Supreme Court did affirm the Fed’s political independence.

From the 5-4 majority decision:What matters is that the Federal Reserve remains consistent with the principles that underpin the First and Second Banks — namely, that monetary policy should not be subject to political interference.The majority said that Trump’s efforts to fire Cook — which he based on unsubstantiated allegations of mortgage fraud that haven’t led to legal charges — denied her any ability to formally challenge the accusations.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.If you are in Reader mode please exit and log in...